UK macro events that could impact the pound this week

(AI Video Summary)

Job data

This week in the United Kingdom, there are a few important things happening that could affect the value of the GBP and the overall economy. Let’s break it down. On Tuesday, we’ll get some job data. Experts are predicting that the unemployment rate will go up to 4% in December. This is a big deal because it tells us how strong the job market is.

Earnings growth

Another thing to keep an eye on throughout the week is average earnings growth. It’s expected that earnings will go up, which is a good sign. This shows us how much people are making and can give us an idea of how the economy is doing.

Inflation data

On Wednesday, there will be data about inflation. Last month, the inflation rate unexpectedly rose to 4%. This matters because it can affect how people feel about the economy and what they expect from the government.Thursday is a big day because we’ll find out how the UK economy did in the last quarter of 2021. If there’s negative growth, it means the country might be in a technical recession. This would be bad for a lot of businesses and could cause problems for the economy as a whole.

Retail sales

Finally, on Friday, we’re going to learn about retail sales in January. This will tell us how people are spending their money and how healthy the retail sector is. Any surprising results could affect how people feel about the economy and might change how they spend their money.

GBP

Overall, all of these events are really important because they could affect the value of the pound and how people feel about the economy. They’ll give us a good idea of how things are going and could influence decisions that the government makes in the future.