U.K. Retail Sales

• Core Retail Sales (y/y) (June), fact 3.6%, forecast 2.7%.
• Core Retail Sales (m/m) (June), fact of 0.9%, forecast -0.2%.
• Retail sales (y/y) (June), fact 3.8%, forecast 2.6%.
• Retail sales (m/m) (June), fact 1.0%, forecast -0.3%.

UK retail sales rose in June, triggering a rise in the British pound on expectations of rising consumer inflation in the UK. It is worth noting that retail sales rose after a decline, returning to the average annual value.

Fig. 1. U.K. core retail sales index (y) 

The British pound maintains an upward trend, reinforced by positive retail sales data, but it is limited by overbought and negative market sentiment. Also worth noting is the persistence of risks in the UK and the downward trend in the British pound. The pair GBP/USD is limited by resistance levels: 1.2500 and 1.2520.

Fig. 2. GBP/USD chart. Current price – 1.2480

Read also: “Multifactor analysis: INTRODUCTION”

Hanzenko Anton

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