CBI Distributive Trades Survey shows a drop of 49% in retail sales volumes. British pound starts erasing its gains against dollar on disappointing data. According to the Confederation of British Industry’s latest Distributive Trades Survey, retailers in the UK expect the sharpest deterioration in business conditions in more than ten years. With the initial market reaction, the GBP/USD pair started to erase its daily gains and was last seen trading at 1.2128, virtually unchanged on the day. “Whilst retail sales volumes and orders both fell at their fastest since December 2008 in the year to August, sales were only slightly below average for the time of year, and to the least extent in four months,” the CBI said in its press release. “10% of respondents reported that sales volumes were up on a year ago in August, while 58% said they were down, giving a balance of -49%.” Commenting on the data, Anna Leach, CBI Deputy Chief Economist, noted that the business confidence weakened sharply amid the heightened concerns over a potential no-deal Brexit. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next NZD/USD technical analysis: Struggles near multi-year lows, well below 0.6400 handle FX Street 4 years CBI Distributive Trades Survey shows a drop of 49% in retail sales volumes. British pound starts erasing its gains against dollar on disappointing data. According to the Confederation of British Industry's latest Distributive Trades Survey, retailers in the UK expect the sharpest deterioration in business conditions in more than ten years. With the initial market reaction, the GBP/USD pair started to erase its daily gains and was last seen trading at 1.2128, virtually unchanged on the day. "Whilst retail sales volumes and orders both fell at their fastest since December 2008 in the year to August, sales were only slightly… 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.
