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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."

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