The British labour market is under scrutiny now together with the government's yearly report on jobs, wages, and related data. Afterwards, the markets will concentrate on the US market via updates on new residential construction activity and the Atlanta Fed's inflation survey through the business sector.

UK: Labour Market Report (0830 GMT) paychecks kept steady in July. The information surprised analysts, who proposed that a rise. By suggesting that the Bank of England can continue to delay rate hikes and thus provide a high amount of monetary stimulation, stable pricing provides a level of relief for the economic outlook.

”We doubt that there will be any interest rate hike till at least late on in 2018 and it might well be postponed,” said an economic advisor at EY ITEM Club.

Steady inflation comes in a period of handling expectations down for the consumer sector, however. ”We see a small comeback in the second half of the year in response to strengthening global growth and a weaker currency, but on the flip side, consumer spending is very likely to be weighed down by poor wage growth and investment investing held back by Brexit-related uncertainty,” advised the head of UK macroeconomic forecasting in the National Institute of Economic and Social Research a week.

Today's update on the jobless rate for July is expected to supply some upbeat news. Economists expect that unemployment will maintain at 4.5% for another month, marking the lowest level since 1975. However, the claimant count is on track to grow for a fifth month, increasing by 3,700, according to TradingEconomics.com's consensus prediction.

Wages growth might be the important number in the modern release. A pace may renew concern that consumer spending will probably suffer in the months ahead. However, a level of great news is expected: analysts view the annual rate for average weekly earnings including bonuses holding steady in 1.8%.

That is still the weakest gain since late 2014 and well under the 2.6% inflation rate. However, if salary growth stops decreasing, the news will provide a counterpoint to a forecasters who see trouble brewing for the UK market in the months ahead.