EUR/USD IG Client Sentiment: Our data shows traders are now net-long EUR/USD for the first time since May 30, 2024 13:00 GMT when EUR/USD traded near 1.08.IG Client Sentiment Update: Our data shows the vast majority of traders in EUR/GBP are long at 79.24%, while traders in EUR/JPY ar...Average earnings inclusive of bonuses rose to 5.9% from 5.7%The UK job market showed further signs of vulnerability after May witnessed the highest claimant count since February 2021.
Average weekly earnings in April rose to 5.9%, proving a sticky data point for the Bank of England to contemplate ahead of next weeks policy setting meeting. However, the Bank has previously expressed it is no longer looking at earnings data as a major contributing factor to inflation pressures, meaning the overall decline in broader measures of inflation are likely to point the Monetary Policy Committee towards an eventual rate cut towards the latter stages of the year.