An Important note about UK data tomorrow- GBP/USD slips ahead of key data events this week

Earlier today an update here noted how the GBP/USD was approaching its 50 day moving average. That is still in place at 1.2786. Subsequent to that update, the Pound got close to that level, reaching 1.2782, but as you can see, it shied away from it. That could be due to a number of factors and one being a rebound from the lows in the EUR/GBP since then. We have some important economic data points due this week. The first comes tomorrow, at 6am GMT and it is the July jobs report. At 6am GMT on Wednesday we get even more important data in the form of the July CPI and RPI inflation reports. Now, owing to some technical upgrades here there will be no Quick News updates covering the jobs report at 6am GMT. Updates are due to resume at 8am GMT tomorrow. In essence, the markets expect UK wages to fall back and unemployment to rise in July and that could impact the pound, but the impact might be limited due to the proximity of the more important inflation data on Wednesday. Meantime, the GBP/USD has dropped back to a low at 1.2753 this morning. It is currently trading at 1.2756