U.K. Retail Sales

• Core Retail Sales (y/y) (Apr), fact 4.9%, forecast 4.2%.
• Core Retail Sales (m/m) (Apr), fact -0.2%, forecast -0.5%.
• Retail sales (m/m) (Apr), fact 0.0%, the forecast -0.3%.
• Retail Sales (y/y) (Apr), fact 5.2%, forecast 4.6%.

U.K. retail sales data unexpectedly deteriorated in April, pointing to the potential for an increase in the consumer price index. The data for the previous period were also revised upwards.

Fig. 1. U.K. core retail sales index chart

Despite the very optimistic statistics, the British pound is restrained in dynamics. This is due to political risks and the expectation of whether British Prime Minister T. May will make a deal with the majority and announce his resignation. Prior to data on this issue, the British pound will be restrained in motion. The GBP/USD pair is trading in a flat, limited to support levels: 1.2630 and 1.2600, resistance: 1.2720 and 1.2750.

Fig. 2. GBP/USD chart. Current price – 1.2680

Read also: “Candkestick analysis.
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Hanzenko Anton

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