The UK’s Office for National Statistics reports that in August 2010 the amount of the unemployed increased by 20.3K people. The total amount of the unemployed is now equal to 1.58 M people.
The amount of July’s jobless claims has been revised: +33.7K people, which is 3.4K less than amount given in the preliminary report.
Consumer prices gained 0.1% in August versus July. Footwear and clothing gained in price 3.7%, furniture – 2%, transportation fees – 1%. Healthcare and community services got 0.4% more expensive. Alcoholic beverages and tobacco lost 0.6%.
FOREX.
According to the Department of Masterforex-V trading system , GBPUSD continues its long-term downtrend. It is currently forming a mid-term downswing - wave C inside A(C ).
At this point the price has come out of the internal MF sloping channel, which means that the mid-term bearish sub-wave C (C ) is probably over. The supposition will be true if formation of an upswing will be attended by a break above the MF pivot (1.5834) and the MF sloping channel defending wave C (a mid-term downswing). Once the low at 1,5706 is broken, the mid-term downswing – sub-wave C(C ) – will be continued.
