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UK ILO unemployment rate expected to drop to 6.3% in July - TD Securities

FXStreet (Łódź) - Prashant Newnaha, Asia-Pacific Macro Strategist at TD Securities sees the UK employment data showing further improvement in July.

Key quotes

"We look for July’s unemployment to show the sixth consecutive monthly decline in the ILO unemployment rate, improving from 6.4% to 6.3%, in line with expectations."

"The risks are mildly biased to the unemployment rate remaining unchanged, and reinforcing that small risk of disappointment, while we think average weekly earnings is likely to rebound back into positive territory from its dip to -0.2% y/y in June, we do think that rebound is liable to undershoot expectations for 0.5% y/y."

FOMC not expected to change guidance before end of QE - RBS

RBS FX strategists Brian Daingerfield and David Simmonds believe that the Fed monetary statement today will not be much different to the one released in July, as the FOMC will most probably wait with changing its forward guidance language until the QE taper finishes in October.
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Change in Fed language very likely - FXStreet

Alberto Muñoz, Forex Analyst at FXStreet, believes that even though the FOMC shouldn't make any adjustments to its monetary policy at today's meeting, it is possible we will see a change in the wording of the statement.
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