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UK retail sales +0.4% as expected – back to Scotland now

No surprises in UK retail sales for August: +0.4%, bang on expectations. Year over year, we have a rise of 3.9%, slightly below 4.1% expected.  UK store prices fall 1.2% y/y, the most since 2009. This isn’t good news. The general picture of the UK economy is good, but the lack of inflationary pressures seen in both this week’s CPI data as well as in prices in stores, is quite discouraging for the central bank.

The pound is marginally lower.

UK retail sales were expected to rise by 0.4% in August after 0.1% in July. This release usually has a significant impact on  the pound, but today is a very special and historic day: the day of the Scottish referendum.

GBP/USD traded around 1.63 in quite a choppy  fashion.

More on the big event:

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.