British retail sales rose by 1.4% in May. On a year-over-year basis, it is a 2.4% rise. Expectations stood on a rise of around 1% after the big fall last month. So, this a nice surprise. GBP/USD traded around 1.5680 before the release and is now 1.5690 after touching 1.57. Update: Cable continues higher above 1.57. This is a piece of good news after the poor employment data yesterday. Also inflation figures were bearish for the pound (even though good for consumers). Last month’s drop was marginally revised to the downside: from -2.3% to -2.4%. The pair made two fast falls yesterday, bottoming out exactly at 1.5650 before bouncing back quickly. The expectations for a more quantitative easing in the July meeting have risen after the release of the dovish meeting minutes yesterday: BOE governor Mervyn King voted for more quantitative easing. The CBI Industrial Order Expectations will be released in the UK later on. For more on the pound, see the GBP USD forecast. 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: Corrective Bounce To 1.2800 Before Pair Turns Bearish Gregor Horvat 11 years British retail sales rose by 1.4% in May. On a year-over-year basis, it is a 2.4% rise. Expectations stood on a rise of around 1% after the big fall last month. So, this a nice surprise. GBP/USD traded around 1.5680 before the release and is now 1.5690 after touching 1.57. Update: Cable continues higher above 1.57. This is a piece of good news after the poor employment data yesterday. Also inflation figures were bearish for the pound (even though good for consumers). Last month's drop was marginally revised to the downside: from -2.3% to -2.4%. The pair made two fast… 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.
