The Pound has started off the morning gaining ground against a basket of major currencies following a release from the office of national statistics announcibng that unemployment levels had indeed slightly fallen on a rolling three month basis from June - August.
This is the first time we have witnessed a positive release of this sort since March - May last year.
This has been taken as extremely positive by investors as it shows labour market resilience within the worst recession we have had in decades.
A quiet day in general for other releases for the U.K - Asides from any surprise announcements that may pop up, we do however see the monthly report for the European monetary union, CPI data for both the Eurozone and U.S at 10:00am and 13:30pm respectively along with jobless claims in the U.S at the same time.... expect volatility for these currencies during this period.
New Zealand Dollar - Inflation has risen.... Late last night saw inflation figures released from New Zealand, these were expected to come out at 0.8% however came out much better than expected at 1.3%.
CPI (Consumer Price Index) is a key indicator of inflation and in general countries/economies will shift interest rates to control it... An interest rate rise is generally positive for the currency concerned and negative should there be a drop in rates as investors look to get a higher return for their funds.
This latest release suggests that the NZD may have further to climb as there is now scope for New Zealand to consider following Australia and hike their rates next time round.
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