Britain’s employment rate numbers missed the expectations. Jobless Claims rose to 7.8K in June. The data was lower than expectations after unexpected high data in the previous month. The payroll figures were in line with expectations and also confirmed the decrease of growth rate that took place a few months ago. GBP experienced the downward pressure. GBP/USD declined from 1.3260 to 1.3090 to the lows of November 2017.
US Industrial Production was released with the numbers that slightly exceeded expectations. The growth in June was 0.6%, manufacturing production data growth was 0.8%. However, negative review of the previous data decreased optimism following the higher than expected current release.
US Building permits will be published today at 12:30 GMT with the expected growth of numbers after three months of declining in a row. The housing market is a strong indicator of consumer activity. This growth can support the markets.
At 18:00 GMT the markets will be focused on the publishing of Fed Beige Book. Previous releases pointed out the business concerns over the steel tariffs and trade wars in general. However, Powel’s optimism yesterday creates a room for expectations that Fed expects this factor to be limited which should allow it to follow the course of the monetary policy.