On Friday, the GBP/USD pair is trading under pressure after the United Kingdom published a weak report on the Retail Sales.
The British Pound is falling against the USD on Friday. The current quote for the instrument is 1.2799. However, even with all things considered the Pound is not going to retreat from its highs, as the political factor is still prevailing for investors.
Today’s statistics showed that the Retail Sales in the United Kingdom lost 1.8% m/m in March after adding 1.7% m/m the month before and against the expected reading of -0.3% m/m. On YoY, the indicator decreased by 1.7%, although it was expected to expand by 3.4%.
This data is rather sad. Possibly, the British inflation growth along with expectations of the Brexit consequences create some “nervous” atmosphere for consumers, which eventually influences the Retails Sales numbers. The Brits are usually pretty conservative about spending, and today’s risks make them save even more.
However, right now the Pound fans are interested more in rumors and expectations than any fundamental indicators. The fact that the parliamentary elections in the UK were set to take place this year instead of 2020 is in the favor of the GBP; investors are still focused on the political sentiments.
RoboForex Analytical Department
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.