Wednesday, September 20, 2017 4:37 AM EDT
An excellent retail sales report from the UK: a rise of 1% m/m, on top of a significant upwards revision. Year over year, sales are up 2.4%, more than double the early expectations.
GBP/USD jumps and nears 1.36
The UK was expected to report a rise of 0.2% in the volume of retail sales in August, after 0.3% in July. Year over year, sales were projected to slide from 1.3% to 1.1%. Excluding fuel, core sales were predicted to pick up by 0.2% m/m and 1.4% y/y.
GBP/USD was trading at around 1.3520 ahead of the publication. It was quite steady, as tension mounts towards the Fed decision later today.
Fed Preview: a window to short the dollar and two other scenarios
In the UK, the main news is that Theresa May may be willing to offer a payment of around 20 billion euros in the Brexit negotiations. Foreign secretary Boris Johnson grabbed the headlines after expressing his own policy suggestions regarding Brexit and also mused about life after politics.
More: GBP: 3 Reasons For Downside Risks But Won’t Fight Against N-Term Strength – Barclays
Disclaimer: Foreign exchange (Forex) trading carries a high level of risk and may not be suitable for all investors. The risk grows as the leverage is higher. Investment objectives, risk appetite and ...
more
Disclaimer: Foreign exchange (Forex) trading carries a high level of risk and may not be suitable for all investors. The risk grows as the leverage is higher. Investment objectives, risk appetite and the trader's level of experience should be carefully weighed before entering the Forex market. There is always a possibility of losing some or all of your initial investment / deposit , so you should not invest money which you cannot afford to lose. The high risk that is involved with currency trading must be known to you. Please ask for advice from an independent financial advisor before entering this market. Any comments made on Forex Crunch or on other sites that have received permission to republish the content originating on Forex Crunch reflect the opinions of the individual authors and do not necessarily represent the opinions of any of Forex Crunch's authorized authors. Forex Crunch has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: Omissions and errors may occur. Any news, analysis, opinion, price quote or any other information contained on Forex Crunch and permitted re-published content should be taken as general market commentary. This is by no means investment advice. Forex Crunch will not accept liability for any damage, loss, including without limitation to, any profit or loss, which may either arise directly or indirectly from use of such information.
less
How did you like this article? Let us know so we can better customize your reading experience.