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Retail sales surpass expectations

17th August 2018 Market Update

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?? GBP – Positive retail sales figures yesterday should have been a welcome boost for the pound. Barring the immediate small jump, the Pound actually continued to fall.

There are no releases due from the UK today.

?? EUR – The trade balance figure for the Eurozone was released yesterday which was slightly higher than expected, the Euro however did not move on the back of this.

Inflation data will be the key release today and expected to remain at 2.1%.

?? USD – Only initial jobless claims were released yesterday and came in better than expected, the Dollar continued to strengthen as a result.

Today there are no releases from the States.

 

Key Announcements

?? EUR
10:00am: CPI expected to remain at 2.1%

Summary: Yesterday the UK saw the release of retail sales which surpassed expectations, this however did not help the Pound as it continued to fall.

 

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Darren Kilner

Darren Kilner

Darren is Head of Dealing at FairFX. Darren lives and breaths FX, his Mastermind topics are G8 currencies and economic forecasts.

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