Retail sales in the UK

• The volume of retail sales in the UK (m/m) is 1.6%, the forecast is 0.8%.
• The base retail sales index in the UK (m/m) is 1.3%, the forecast is 0.4%.
• The base retail sales index in the UK (y/y) is 1.5%, the forecast is 0.1%.

Retail sales showed unexpected growth in the UK in April, thereby sharply increasing optimism about the inflation situation in the country and the possibility of tightening monetary policy by the Bank of England.

Fig. 1. Retail Sales in the UK

As a result, this news has markedly increased optimism on the pound and European currencies. So, the GBP/USD pair returned to the established channel and is preparing to test resistance levels: 1.3400 and 1.3450-70.

Fig. 2. GBP/USD. Current price – 1.3400

Also, read: “Trading Against the Trend in Examples”.

Andre Green