Good news from the UK: consumers were more active in June. Retail sales are up 0.6% and this comes on top of an upwards revision. Year over year, sales are up 3%. Core retail sales are up 0.9% m/m and 2.9% y/y also ahead of expectations. All figures are better than predicted. GBP/USD recaptures 1.30 after the previous fall. Where will it go next? Update: after the big jump, GBP/USD falls back down. The gains are unsustained and the move reflects weakness in cable. What cannot go up on good news, has a good potential to drop. The UK was expected to report a rise of 0.4% in monthly retail sales in June after a big drop of 1.2% in May. Year over year, a rise of 2.5% was on the cards. Similar figures were predicted for core sales: 0.5% m/m and 2.5% y/y. GBP/USD was tumbling down below 1.30 ahead of the publication. Contrary to normal activity ahead of the release of UK indicators, the move this time does not seem related to rumors. The US dollar is clawing back up across the board after the big sell-off early this week. Earlier in the week, the pound was not able to take full advantage of the greenback’s slide due to a slowdown in inflation. At 2.6%, the pace of inflation outpaces wage growth, but the drop from 2.9% implies a lower chance of a rate hike this year. More: Buy GBP/JPY – Citi trade of the week 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. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next EUR/USD falls – Is a dovish Draghi already priced in? Yohay Elam 6 years Good news from the UK: consumers were more active in June. Retail sales are up 0.6% and this comes on top of an upwards revision. Year over year, sales are up 3%. Core retail sales are up 0.9% m/m and 2.9% y/y also ahead of expectations. All figures are better than predicted. GBP/USD recaptures 1.30 after the previous fall. Where will it go next? Update: after the big jump, GBP/USD falls back down. The gains are unsustained and the move reflects weakness in cable. What cannot go up on good news, has a good potential to drop. The UK was… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
