Markets edgy ahead of UK jobs and wages report - business live
(The Guardian Business News)

Rolling coverage of the latest economic and financial news, including Britain´s unemployment figuresIntroduction: Will UK jobless rate stay at 43-year low?Economists hope for higher wage growthAsian markets mixed after last week´s routItaly has submitted its budget to EU 8.12am BST 2018 is turning into a year to forget for Chinese investors:Chinese stocks fall another 0.8% today, deeper into bear market territory to lowest in over 2 years. They`re now down 23% this year, and down 30% from the January peak. pic.twitter.com/dnJZ0KQaJ4 7.57am BST Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. Related: UK wages rise faster than expected amid lowest jobless rate in 40 years Brexit developments are expected to remain the key driver of the pound; however, for a few fleeting minutes traders will turn their attention to UK jobs data.Unemployment is forecast to remain constant in August at 4%. Weekly earnings are expected to remain steady at 2.9% in the 3 months to August. It will take a significant beat to the upside to inject some optimism into the pound. On the other hand, any weakness in the figures could drag on the pound given the downside risks of Brexit already making the pound sensitive.Regional markets are trading more positively this morning as overall regional volatilities are falling. A weaker US dollar profile is helping to cool depreciation pressure on the Yuan as overextended shorts are getting pared. Don´t confuse this recovery with anything other than consolidation amidst a protracted downtrend in Asia equities. Traders are looking to sell upticks given that intraday volatility can ignite on the drop of a dime.Italy´s coalition approves draft budget before EU deadline via @FT https://t.co/Eduuxx3fVE Continue reading...