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Most notable was the average wage index growth, which exceeded expectations at 2.8% for the 3 months to the end of November. That’s the best number since the end of 2015, and good news for those feeling their wallets pinched by the UK’s rapidly increasing inflation. The claimant count change reading was similarly strong – at -10.1k the amount of people claiming unemployment benefits fell by the fastest pace for 10 months in December – while the unemployment rate itself remained steady at 4.8%. Yet all this had little impact on the market. The pound continued to fall by 0.7% against the dollar and 0.4% against the euro, with the FTSE flat at 7230 despite sterling’s regression.

Over in the Eurozone things were just as unexciting. The region’s most recent inflation figure was confirmed at a 3 year high of 1.1%, something that failed to cause any fresh movement from either the DAX or the euro.

Looking ahead to the US open and, with the Dow Jones failing to muster any energy in pre-market trading, this afternoon could be a bit of a slog. There are, however, a few US figures to tide investors over, the most important being December’s inflation data. Analysts are expecting a slight increase from 0.2% to 0.3% month-on-month, something that could help extend the dollar’s current gains. Beyond the CPI reading, US industrial production is set to jump from -0.4% to 0.8% alongside a 0.6% for the capacity utilization rate to 75.6%.

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Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Connor Campbell

Connor Campbell

Connor joined Spreadex in 2014 as part of a newly expanded financial analyst team after graduating from the University of Southampton with an MA in English. His focus is on providing Spreadex's customers with up-to-date and informative news, and is responsible for the market analysis found on the Spreadex website.

Connor produces three daily market updates, a daily stock earnings preview, a weekly financial market preview piece every Friday, a round-up of all the big financial stories making the weekend press every Monday morning and regular stock market features.

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