UK unemployment rate holds steady in May, payrolls decline again in June

May ILO unemployment rate 4.9% vs 5.0% expected Prior 4.9% May employment change 147k vs 80k expected Prior 100k May average weekly earnings +4.3% vs +4.5% 3m/y expected Prior +4.4% May average weekly earnings (ex bonus) +3.4% vs +3.4% 3m/y expected Prior +3.4% June payrolls change -4k Prior 2k; revised to 3k . And that remains the number one caveat that ONS is pinning on their labour market report this month. This article was written by Justin Low at investinglive.com.

Forexlive12h ago1 min readSingle source

UK unemployment rate holds steady in May, payrolls decline again in June — Image · Forexlive

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2-point summary · 1 min

And that remains the number one caveat that ONS is pinning on their labour market report this month.
This article was written by Justin Low at investinglive.com.

4.9%5.0%+4.3%+4.5%+4.4%+3.4%

Source

May ILO unemployment rate 4.9% vs 5.0% expected Prior 4.9% May employment change 147k vs 80k expected Prior 100k May average weekly earnings +4.3% vs +4.5% 3m/y expected Prior +4.4% May average weekly earnings (ex bonus) +3.4% vs +3.4% 3m/y expected Prior +3.4% June payrolls change -4k Prior 2k; revised to 3k. And that remains the number one caveat that ONS is pinning on their labour market report this month. This article was written by Justin Low at investinglive.com.

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·28m ago

AUDUSD reached key technical target and backed off. MA target approached on the downside

The rebound from today's low extended from 0.6991 to 0.7026, carrying the pair above several significant technical hurdles. The rally pushed through last week's high at 0.7021, cleared a swing high from June 19 in the same area, and briefly traded above the 38.2% retracement of the decline from the May high to the late-June low at 0.7022. However, buyers were unable to sustain momentum above that cluster of resistance. The failure to hold the breakout gave sellers the green light to re-enter, with the move aided by broad U.S. dollar strength as USDJPY continues to trade at fresh 40-year highs. The ensuing decline has taken the pair back toward the 0.7000 level, with today's low reaching 0.7002. Standing in the sellers' way is the rising 100-hour moving average, currently at 0.69962. Given that buyers have successfully defended this moving average during each of the past two trading days, it remains the key technical pivot for the near-term outlook. Stay above the 100-hour moving average, and the bias remains tilted toward another attempt at the 0.7021-0.7022 resistance cluster. A decisive break above that area would strengthen the bullish case and shift the focus toward higher targets. Move below the 100-hour moving average, however, and the technical picture would become more bearish. That break would expose the 200-hour moving average at 0.69729, followed by a key swing area between 0.6962 and 0.6978, where buyers would need to make another stand. For now, the market remains at an important crossroads. Buyers continue to control the short-term bias while the pair holds above the 100-hour moving average, but sellers earned some credibility by rejecting the breakout above the 0.7022 resistance cluster. The next meaningful directional move is likely to be determined by whichever side can force a sustained break of these key technical levels with momentum. This article was written by Greg Michalowski at investinglive.com.

ForexliveSingle source

·2h ago

Trump meets with Lebanese President Joseph Aoun in the White House

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·2h ago

Canada Carney: Latest tariff threat are a violation of USMCA

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·3h ago

The broader Nasdaq and S&P indices are pushing higher. What are the technicals telling traders?

Last week offered a reminder of how important those resistance levels are. The NASDAQ briefly traded above the hourly moving averages but stalled near a key swing area around 26,310, where sellers stepped back in. The index then fell below both moving averages on Thursday and opened with a bearish gap lower on Friday before beginning the current recovery. Unless buyers can push through the two hourly moving averages, the rally remains more of a corrective bounce within a broader bearish technical structure. The S&P 500 is in slightly better technical shape. The index has already climbed back above its 200-hour moving average at 7,467.03, but it is now testing the more important 100-hour moving average at 7,513.28. That level proved to be a ceiling on Friday, when buyers briefly pushed above it only to encounter willing sellers that forced the index back lower. Today's rally brings traders back to the same decision point. A sustained move above the 100-hour moving average would strengthen the bullish case and shift momentum back toward the upside. Conversely, failure to break and hold above the 100-hour moving average would keep the technical outlook more neutral-to-bearish. A move back below the 200-hour moving average at 7,467.03 would put the focus squarely on the downside once again, with the 7,421.82 swing area becoming the next key support. A break below that level would give sellers greater control. In the video above, I take a closer look at both the NASDAQ and the S&P 500 from a technical perspective. I also include a bonus review of two semiconductor leaders—Micron and Nvidia. Last week I highlighted Micron as a stock to watch for support near the bottom of a swing area around $818.67, followed by the 50% retracement below. At Friday's open, the stock briefly gapped below the $818 level but quickly found buyers and reversed sharply higher—a classic rejection of lower prices. That rebound carried the shares back toward the $900 area, where resistance emerged near the previously broken 38.2% retracement. Today, Micron gapped higher once again and is currently trading up $67, or 7.76%, at $932.63. The next key upside target comes against its falling 100-hour moving average at $961.62. A move above that level would strengthen the technical picture further and give buyers another important victory. Nvidia is also showing signs of improving technically, with the stock climbing back above its nearly converged 100-hour and 200-hour moving averages (blue and green lines), both clustered near $203. As long as the price can hold above those key moving averages, the near-term bias tilts back in favor of the buyers. The next upside targets come into a swing area between $212.19 and $214.00, where sellers previously stepped in. On the downside, a move back below the 100- and 200-hour moving averages would shift the focus back toward the 100-day moving average near $199. That level proved to be solid support last week, attracting willing buyers and helping to stabilize the stock. Holding above the hourly moving averages keeps buyers in control, while a break back below them would hand momentum back to the sellers. This article was written by Greg Michalowski at investinglive.com.

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