5:18 PM
The recovery of the pound was short-lived
Forex Trading | Forex News Daily Update |FXTM Online Analysis Department.
On Tuesday, the GBP/USD pair is falling again after a slow start of the week and statistics is coming out mixed and has no GBP support.
The British pound on Tuesday morning is falling. Yesterday's correction, unfortunately, was not very long – ahead is a large block of statistics, and the data that is already known, is not very pleasing to the investors.
Inflation in the UK in March rose by 0.2% m/m against the forecast of growth of 0.3%. The core consumer price index last month fell to 1% from 1.2%. Statistics, as a result, came out weaker than expected and that upset the market participants. Weak inflation is guaranteed to postpone the start of tightening in monetary policy of the Bank of England for an indefinite period.
Retail sales in March increased by 3.2% according to the calculations of BRC. The previous value of the index, according to the British consortium of retailers was 0.2%. BRC observers rely on sufficiently objective statistics gathered in the real economy. The fact is that a rate increase, could have supported the pound sterling, but alas - Today at the zenith of attention is on inflation.
Sales in the retail sector in March increased by 4.7% y/y. Total sales of food increased by a maximum annual rate. The non-food goods group has expanded in the sale by 12.3% y/y.
For now, the GBP will remain under pressure, but a lot can change in the afternoon, when the macroeconomic reports will be published in the United States.
The British pound on Tuesday morning is falling. Yesterday's correction, unfortunately, was not very long – ahead is a large block of statistics, and the data that is already known, is not very pleasing to the investors.
Inflation in the UK in March rose by 0.2% m/m against the forecast of growth of 0.3%. The core consumer price index last month fell to 1% from 1.2%. Statistics, as a result, came out weaker than expected and that upset the market participants. Weak inflation is guaranteed to postpone the start of tightening in monetary policy of the Bank of England for an indefinite period.
Retail sales in March increased by 3.2% according to the calculations of BRC. The previous value of the index, according to the British consortium of retailers was 0.2%. BRC observers rely on sufficiently objective statistics gathered in the real economy. The fact is that a rate increase, could have supported the pound sterling, but alas - Today at the zenith of attention is on inflation.
Sales in the retail sector in March increased by 4.7% y/y. Total sales of food increased by a maximum annual rate. The non-food goods group has expanded in the sale by 12.3% y/y.
For now, the GBP will remain under pressure, but a lot can change in the afternoon, when the macroeconomic reports will be published in the United States.
Forex Trading | Forex News Daily Update |FXTM Online Analysis Department.
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