With Brexit roughly two weeks away and the EU and the UK apparently still too far apart to reach a deal, analysts will await today’s UK employment data in order to gauge the health of the labor market amid an uncertain Brexit outcome. Wage pressures have been elevated and economists expect this to continue. How will today’s employment data impact price action in the GBPAUD? Today’s fundamental analysis will take a look at the downside risk as well as the upside potential in this currency pair.

RBA minutes were in focus during the Asian trading session. The Australian central bank highlighted ongoing global economic concerns, but noted that its own economy showed signs of stabilizing in the first half of 2019 with a resilient service sector. The Australian Dollar remained stable after the release. Chinese inflation data showed higher-than-expected CPI data while the PPI continues to print deflationary pictures. How will the GBPAUD be impacted moving forward? Subscribe to the PaxForex Daily Fundamental Analysis and earn over 5,000 pips per month.