Employment Change 3-months comes in at 147K against 38K consensus

The latest Employment Change 3-months for GBP came in at 147K, significantly exceeding the consensus expectation of 38K. This print also surpassed the previous figure of 100K. The actual result represented a 286.8% surprise against the market consensus.

Following the release, the British Pound exhibited varied movement across major pairs. Fifteen minutes after the data, EURGBP was down -2.2 pips, while GBPAUD gained +2.9 pips. GBPCAD saw a rise of +13 pips, and GBPCHF was up +0.6 pips. GBPJPY increased by +11 pips, and GBPNZD also rose by +11 pips. GBPUSD registered a gain of +4.9 pips. Compared to historical median 1-hour moves, the initial reactions for most pairs, including EURGBP, GBPAUD, GBPCHF, GBPJPY, GBPNZD, and GBPUSD, were relatively small. For example, EURGBP’s -2.2 pip move compares to a median 1-hour move of 7 pips, and GBPUSD’s +4.9 pip move compares to a median 14 pip move. GBPCAD’s +13 pip move was in line with its median 1-hour move of 13 pips.