U.S. Retail Sales Data

• Core Retail Sales Index (y/y) (July), fact 2.9%, forecast 2.3%.
• Core retail sales index (m/m) (July), fact 0.2%, forecast -0.2%.
• Retail sales (y/y) (July), fact 3.3%, forecast 2.6%.
• Retail sales (m/m) (July), fact 0.2%, forecast -0.2%.

UK retail sales rose significantly in July. It slowed down the existing downward dynamics significantly. At the same time, despite positive statistics, the market reaction to the data turned out to be restrained, as sales figures indicate a recession in the UK economy.

Fig. 1. U.K. Retail Sales Chart (YoY)

 

The British pound maintains a restrained upward trend, receiving support from risk reduction and positive statistics for the UK. The GBP/USD pair, despite attempts to grow, remains limited by resistance levels: 1.2100 and 1.2120.

Fig. 2. The GBP/USD chart. Current price – 1.2080

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Hanzenko Anton

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

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