UK Wage Growth Slows as BoE Rate Decision Looms 
UK Economy Grows 0.4% in July, Beating Forecasts 
Asian Tech Stocks Slide as AI Concerns and Rising Bond Yields Hit Chipmakers 
Saudi Oil Exports Face 4% Global Supply Threat as Pipeline Remains Shut 
Gold Prices Fall as Hot U.S. Inflation Boosts Fed Rate Hike Bets 
Oil Prices Surge as Houthi Attacks Raise Saudi Supply Fears 
BOJ Set to Raise Rates to 1.25% as Inflation Risks Build 
Central Banks Could Buy 20,000 Tonnes of Gold: BofA 
US Futures Fall as Fed Meeting, Oil Surge Rattle Markets 
Gulf Ministers to Meet Iran in Oman Over Hormuz Shipping Deal 
Asian Stocks Steady as AI Shares Rebound Ahead of Fed Decision 
Japanese Yen Retreats as Dollar Rises Ahead of Fed, BOJ Rate Decisions 
Asian Bank Stocks Slide as BofA Warning and Rising Yields Hit Sentiment 
Goldman Sachs Forecasts Fed Rate Hike as Inflation Risks Rise 
EUR/USD Eyes 1.17 as Fed Decision Could Weigh on Dollar 
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EUR/GBP chart - Trading View
According to data released by the Office of National Statistics, UK unemployment rate fell 0.3 percent in the last quarter as businesses continued on a hiring spree.
UK the unemployment rate now stands at 4.6 percent, in line with forecasts, after a record 241,000 employees were added to payrolls last month.
Average Earnings excluding bonuses beat estimates with an increase of 8.3% YoY. Jobless claims fell by 58,600 in August, below expectations.
The unemployment rate has fallen for 7 months in a row and the number of employees on payrolls is back above pre-pandemic levels.
UK employment figures are likely to support the BOE hawks. GBP/USD posts minor gains after UK jobs data.
Traders will however remain wary ahead of the crucial US CPI data for a clearer view before pushing the pair higher in reaction to the British jobs data.
Chancellor of the Exchequer, Rishi Sunak said: “Today’s statistics show that our Plan for Jobs is working. As we continue to recover from the pandemic, our focus remains on creating opportunities and supporting people’s jobs.”
Market Reaction:
GBP/USD trades 0.09% higher on the day at 1.3850 at 06:45 GMT
EUR/GBP largely unchanged at 0.8529 at the time of writing.
