**When is the UK Jobs Report and How Could it Affect GBP/USD?**
The United Kingdom (UK) is set to release its latest labor market report, published by the Office for National Statistics (ONS), on Tuesday at 07:00 GMT. This highly anticipated release includes several key metrics that could influence currency markets, particularly the GBP/USD pair.
**UK Labor Market Expectations**
For October, the UK Claimant Count Change—which reflects the number of people claiming jobless benefits—is expected to rise by 20,300. This would be a slight improvement compared to the 25,800 increase recorded in September. The Claimant Count Rate stood at 4.4% in the previous month.
In addition to the Claimant Count, the market will be watching the 3-month Employment Change and the ILO Unemployment Rate. Expectations point to a minor increase in the three-month ILO Unemployment Rate, from 4.8% to 4.9%. Wages, both with and without bonuses, are also projected to tick down slightly for the rolling three-month period ended in September.
**GBP/USD Reaction Ahead of Report**
Ahead of the jobs report, GBP/USD is holding just below the 1.32 level. The pair had extended a four-day win streak as traders braced for the latest round of UK employment figures. However, the US Dollar (USD) has regained some support, partially due to optimism over a potential resolution to the US government shutdown.
**US Government Shutdown and Market Sentiment**
Market flows in the United States are expected to be subdued on Tuesday due to Veterans Day. Despite this, headlines regarding the possible end of the US government’s longest partial shutdown in history are keeping risk appetite elevated. Over the weekend, the US Senate passed a funding bill in a 60-40 vote, with bipartisan support, effectively setting the stage for the government to reopen. The measure now moves to the House for final approval.
This positive development has helped limit USD losses and has had a calming effect on the broader market, including the GBP/USD pair, which is consolidating around 1.3150 during North American trading hours.
**Outlook for GBP/USD**
With both the UK labor data and US government developments in focus, GBP/USD could see heightened volatility. A weaker-than-expected UK jobs report may weigh on the Pound, while resolution of the US shutdown could further bolster the Dollar.
Traders should keep an eye on the official labor market data release at the outset of the London session for potential trading opportunities and to gauge the next direction for GBP/USD.
https://bitcoinethereumnews.com/finance/gbp-usd-pair-is-trading-around-1-3170-amid-growing-hopes/
