UK Average Earnings Index 3m/y comes in at 4.3% against 4.6% consensus
| Pair | Now | Since publish |
|---|---|---|
| GBPUSD | — | — |
The UK Average Earnings Index 3m/y, released today at 06:00 UTC, printed at 4.3%. This figure was below the consensus expectation of 4.6%. The previous period’s reading was 4.4%. The actual result represented a -6.5% surprise compared to the market consensus.
Following the release, the British Pound showed varied movement against other major currencies. GBPUSD moved up 4.9 pips 15 minutes after the release, while GBPCAD gained 13 pips and GBPJPY rose 11 pips over the same period. GBPAUD was up 2.9 pips, and GBPNZD was up 11 pips. EURGBP moved down 2.2 pips, and GBPCHF was up 0.6 pips after 15 minutes. For context, the median 1-hour move for GBPUSD after past releases of this event is 14 pips, and for GBPCAD it is 14 pips. The 15-minute moves observed were generally smaller than the typical 1-hour median moves for these pairs.