GBP/USD traded for its fifth straight easy gain on Monday (2/17), rising almost a third of a percent and re-passing the 1.2600 mark. Currency market flows were limited to start the new trading week with US markets quiet due to the Presidents Day holiday.
UK Average Earnings for the three months to December are expected to rise on a yearly basis on Tuesday. The headline figure for bonuses and allowances taken into account is expected to come in at 5.9%, compared to the previous reading of 5.6%. The UK Claimant Count Change for January is also projected to rise to 10,000 net new jobless claimants during the month, compared to the previous reading of 0.7,000. The ILO Unemployment Rate is also expected to rise to 4.5% from 4.4%.
The key US data this week is the upcoming Minutes of the Federal Reserve's (Fed) latest interest rate call, due on Wednesday. The US Purchasing Managers' Index (PMI) survey results are also due this week, but will not be released until Friday. (Newsmaker23)
Source: FXstreet
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