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.
Hanzenko Anton
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