U.K. Retail Sales

• Core Retail Sales (m/m) (Feb), fact 0.2%, forecast -0.4%.
• Core Retail Sales (y/y) (Feb), fact 3.8%, forecast 3.3%.
• Retail Sales (m/m) (Feb), fact 0.4%, forecast -0.4%.
• Retail sales (y/y) (Feb), fact 4.0%, forecast 3.3%.

Data on retail sales in the UK in February unexpectedly increased, indicating the growth of this indicator, that shows the prospects for increased inflation. The overall year-on-year dynamics slowed down less significantly than expected, indicating a restrained upward trend.

Fig. 1. U.K. retail sales (y) chart

The British pound almost did not respond to optimistic data on retail sales in the UK. The limiting factor for the British pound remains the expectation of the Bank of England meeting results, which is likely to keep a low position on Brexit risks, and that can also be seen in the restrained downward dynamics of the pound on the correction of positions before the news.

The GBP/USD pair is limited by resistance levels: 1.3250 and 1.3300, support: 1.3100 and 1.3050.

Fig. 2. GBP/USD chart. Current price – 1.3170

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Hanzenko Anton

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