GBP/USD declines towards 1.1400 on lower consensus for UK Retail Sales – by Sagar_Dua24 GBPUSD RetailSales Inflation Employment DollarIndex
As per the estimates, UK Retail Sales will drop by 4.2% on an annual basis.The GBP/USD pair
has surrendered the psychological support of 1.1500 and is declining towards a multi-decade low at 1.1400. The asset has extended its losses after dropping below Wednesday’s low at 1.1480 and more downside looks certain amid downbeat consensus for the UKdata. An upbeat US Retail Sales data released on Thursday is responsible for the establishment of the cable below the psychological support of 1.1500.
On Thursday, the US Retail Sales landed at 0.3%, higher than the expectations of 0% and the prior release of -0.4%. As the retail demand has expanded by 0.3%, investors keep the US dollar index at elevated levels. The investing community is aware of the fact that the inflationary pressures have yet not responded well to the soaring interest rates by the Federal Reserve . And, higher interest rates always decline the value of paychecks received by the households. But growth prospects, retail demand, and labor market are extremely robust in the US economy, which is shielding the economy against the consequences of red-hot inflation.
On the pound front, investors are dumping sterling ahead of the UK Retail Sales data. The economic data is expected to decline by 4.2% against a decline of 3.4% reported earlier on an annual basis. Also, the monthly figure will display a decline of 0.5% against a rise of 0.3% reported earlier. The overall demand in the UK economy is getting poor led by higher energy bills and a worsening labor market. This indicates a significant decline in the confidence of consumers in the economy.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
GBP/USD bulls step in at key support in the face of USD headwindsGBP/USD bulls are attempting a correction from an important support area near the midpoint of the 1.1400 area, with the price recovering from a low of
Weiterlesen »
GBP/USD Forex Signal: Bears in Control as Crash to 1.1400The $GBPUSD price bounced back slightly after the latest UK and US inflation data. FOREX SIGNALS
Weiterlesen »
Gold Price Forecast: XAU/USD declines towards $1,690 on hawkish Fed bets, US Retail Sales eyedGold Price Forecast: XAU/USD declines towards $1,690 on hawkish Fed bets, US Retail Sales eyed – by Sagar_Dua24 Gold XAUUSD Fed Inflation RetailSales
Weiterlesen »
GBP/USD remains under pressure above 1.1400 – UOBFX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang talked down the possibility of a break below 1.1400 in GBP/USD in the near term. Key Quotes
Weiterlesen »
GBP/USD faces barricades around 1.1500, focus is on US Retail SalesThe GBP/USD pair is inching modestly towards the upside after a rebound from 1.1526 in the late New York session. The pair is expected to remain sidew
Weiterlesen »
Gold Price Forecast: XAU/USD eyes further decline below $1,700, US Retail Sales in focusGold price (XAU/USD) has given a downside break of the consolidation formed in a narrow range of $1,700.80-1,703.38 in the Asian session. The precious
Weiterlesen »