Investors should watch for fluctuations in the pound following the release of UK unemployment figures

Investors should watch for fluctuations in the pound following the release of UK unemployment figures

16.08.2022

In yesterday’s U.S. currency trading, while cross-yen pairs generally fell, USD/JPY held up well, trading in a range between 132.573 and 133.600.Following yesterday’s decline, USD/JPY has recovered during today’s Asian session and is rising with momentum toward yesterday’s high of 133.600. If this upward trend continues, it will be worth watching whether the pair can reach the recent high on the 4-hour chart at 134.298.

European currencies saw the pound continue to decline against the U.S. dollar, with GBP/USD falling by approximately 100 pips from 1.2147 to 1.2050. While GBP/USD has been trading within a range of 1.2003 to 1.2293 on the daily chart, there is a possibility it could break below this range due to the strength of the U.S. dollar; therefore, we will be closely monitoring whether it breaks below the lower boundary of the range at 1.2003.

Today, the UK unemployment rate will be released at 3:00 PM Asia time, followed by Turkish home sales at 4:00 PM Europe time, the German ZEW Economic Sentiment Survey and the Eurozone trade balance at 6:00 PM,at 8:30 PM the Turkish Housing Price Index, at 9:15 PM Canadian Housing Starts, at 9:30 PM (U.S. time) the Canadian Consumer Price Index, Canadian International Securities Turnover, U.S. Housing Starts, and U.S. Building Permits, at 10:15 PM U.S. Industrial Production and U.S. Capacity Utilization, and at 7:45 AM the following day the New Zealand Q2 Producer Price Index.We will be watching closely to see if the pound, which has been weakening against the US dollar, will react to the unemployment rate release.

Past Market Reports

1. 22.04.2026New

   Will interest grow in the upside potential of the Swiss franc, which has risen against the yen?

2. 21.04.2026New

   With the euro-Australian dollar pair hitting new lows this month, attention is turning to how much further it might fall

3. 20.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

4. 17.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

5. 16.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

6. 15.04.2026

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

7. 14.04.2026

   Market participants are likely watching for signs of a rebound in the Canadian dollar, which fell against the U.S. dollar following the release of employment figures

8. 13.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

9. 10.04.2026

   Will the U.S. dollar, which has fallen against the yen, continue its downward slide, or should we wait and see how the market moves?

10. 09.04.2026

    Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?