The GBP/USD pair is still under pressure, although the Pound has rallied a bit after statistics on retail sales.
The British Pound is trading differently, but the sales of the four previous trading sessions slowed down a bit. The current quote for the instrument is 1.4130.
According to the statistics published today, retails sales in February decreased by 0.4% m/m against the increase by 2.3% a month earlier. The prediction was the decrease by 0.7% m/m, that’s why the data is considered positive enough. Of course, sales excluding volatile goods, such as fuel, decreased only by 0.2%. But it’s an expected result. Sales of food products in February decreased by 0.3%, sales of non-food products reduced by 0.1%.
The number of sales of energy products significantly “spoils” an overall indicator of retail sales. And this is not only in the United Kingdom, but in entire Europe and even the USA as well. Volatility of oil and other commodities on the raw exchange market significantly adjusts macroeconomic indicators.
In general, the Pound is still under pressure from the US Dollar. The Dollar looks rather strong right now, that’s why the mid-term trend will continue.
RoboForex Analytical Department
Without authorization, you can view no more than two reviews per day and no more than 10 per month. To continue reading analytical reviews, register or login to your Members Area.