News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.98%, while traders in France 40 are at opposite extremes with 79.17%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/WJB3ALH1Ft
  • RT @Yeap_IG: #IGMorningthoughts: - #VIX testing support from upward trendline - Mixed signals for jobs report tomorrow. Both #ISM #PMI empl…
  • Poll from @Reuters - major FX pairs outlook for the next 12-months. https://t.co/VOQAfhMgfR
  • 🇦🇺 Balance of Trade (JUN) Actual: A$10.496B Expected: A$10.45B Previous: A$9.269B https://www.dailyfx.com/economic-calendar#2021-08-05
  • 🇦🇺 Balance of Trade (JUN) Actual: A$10.496B Expected: A$10.45B Previous: A$9.681B https://www.dailyfx.com/economic-calendar#2021-08-05
  • The Nasdaq 100 may continue outperforming Dow Jones futures ahead as fears about global growth continue weighing on the 10-year Treasury yield ahead of NFPs. What are the risks? Find out from @ddubrovskyFX here:https://t.co/kADmxIfyHt https://t.co/xZl7hTPoSI
  • Heads Up:🇦🇺 Balance of Trade (JUN) due at 01:30 GMT (15min) Expected: A$10.45B Previous: A$9.681B https://www.dailyfx.com/economic-calendar#2021-08-05
  • S&P 500 Falls on Weaker ADP Jobs Report, Hang Seng to Open Flat https://www.dailyfx.com/forex/market_alert/2021/08/05/SP-500-Falls-on-Weaker-ADP-Jobs-Report-Hang-Seng-to-Open-Flat-.html https://t.co/Pql6w44nPl
  • 🇵🇭 Inflation Rate YoY (JUL) Actual: 4% Expected: 3.9% Previous: 4.1% https://www.dailyfx.com/economic-calendar#2021-08-05
  • Heads Up:🇵🇭 Inflation Rate YoY (JUL) due at 01:00 GMT (15min) Expected: 3.9% Previous: 4.1% https://www.dailyfx.com/economic-calendar#2021-08-05
British Pound Steady Despite Massive BRC Retail Beat

British Pound Steady Despite Massive BRC Retail Beat

David Cottle, Analyst

Talking Points:

  • A gauge of UK retail sales made a mockery of forecasts in April
  • The British Retail Consortium’s figure showed a 5.6% rise, when markets had looked for a 0.5% gain
  • The Pound didn’t move far, but may find support in the data when Europe comes in

Gauge traders’ view on the British Pound and all majors here.

The British Pound rose only moderately Tuesday despite a consensus-smashing look at retail sales.

According to the British Retail Consortium like-for-like sales were up 5.6% on the year in April. This was vastly ahead of the expected 0.5% gain and a clear turnaround from March when sales fell 1%.

Moreover, total retail spending rose 6.3% on an annualized basis. That’s the strongest print since April 2011.

The BRC said that Easter holiday timings provided a boost for sales.

The data are released long before European markets are up and running. It remains to be seen what they will make of it but Asian investors didn’t take the Pound up very far on the news. It stayed around the $1.2940 area against the US Dollar

Big Beat, Small Move

British Pound Steady Despite Massive BRC Retail Beat

Chart Compiled Using TradingView

As ever the specter of Brexit glowers over all UK data. Indeed, BRC Chief Executive Helen Dickinson said that, “looking to the longer-term signs of a slowdown, the outlook isn’t as rosy.”

--- Written by David Cottle, DailyFX Research

Contact and follow David on Twitter:@DavidCottleFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES