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06 Feb 2015

US Labour Market Data Eyed

In line with market estimates, the BoE kept its interest rates unchanged at its policy meeting yesterday. The just released data indicates that trade deficit in the UK broadened more than expected for December. Sterling investors showed little reaction to today’s data. For the week ahead, macro updates, including the NIESR GDP forecast and the BoE’s quarterly inflation report, will be keenly watched. Across the Atlantic, the official labour market release is likely to attract significant attention among investors in the latter half of today’s trading session. The report is expected to show that hiring pace in the US remained steady for January and wage growth picked up pace last month.