Retail sales in the UK - Ester Holdings
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Retail sales in the UK

  • Core retail sales index (m / m) (July), fact 0.9%, forecast 0.1%.
  • Core retail sales index (y / y) (July), fact  3.7%,  forecast  2.8%.
  • Retail sales (m / m) (July), fact 0.7%, forecast 0.2%.
  • Retail sales (y / y) (July),  fact  3.5%,  forecast 3.0%.

Retail sales increased significantly in the UK in July, providing a restrained support to the British pound and confirming optimistic inflation statistics in the UK. Also, data on the UK increased the growth of optimism on the European stock exchanges, strengthening the withdrawal of investors from safe assets

Fig. 1. Retail sales chart in the UK

 

The dynamics of the pair GBP/USD, as well as the market in general, remains aimed at correction against the dollar. The pair continues to be limited by a downtrend and resistance levels: 1.2750 and 1.2780.

Fig. 2. GBP/USD chart. The current price is 1.2710.

 

Read also: “How has the economy of Great Britain changed after the announcement of Brexit and how it affected the pound”

Hanzenko Anton

Earn with the help of the trade service on the news Erste News!

Topical articles of the trader’s blog:

  1. Medium-term prospects for the US dollar for August-September
  2. Emerging markets and their prospects: Chinese yuan (CNH or CNY)
  3. Stock indices: the Japanese market

Current Investment ideas:

  1. Preparing to have profits on an optimistic report of Alcoa Inc.!
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