GBP/USD – Pound slightly higher on strong UK retail sales

Aug 16 17:08 2018 Print This Article

The British pound has posted slight gains in the Thursday session. In North American trade, the pair is trading at 1.2708, up 0.08% on the day. On the release front, British retail sales rebounded with a gain of 0.7%, beating the estimate of 0.2%. It was a busy day for U.S indicators. Building Permits improved to 1.31 million, matching the estimate. Housing starts remained at 1.17 million, short of the estimate of 1.27 million. On the manufacturing front, the Philly Manufacturing Index dropped sharply to 11.9, missing the estimate of 21.9 points. Unemployment claims edged down to 212 thousand, shy of the estimate of 215 thousand. On Friday, the U.S releases Preliminary UoM Consumer Sentiment. 

British retail sales posted a respectable o.7% gain in July, following a decline of 0.5% in June. The turnaround has been attributed to the hot summer weather as well as a strong showing by the British soccer team at the World Cup in July. This is suggestive of improved growth in the third quarter.

Read More

About Article Author

Market Pulse

Established in 2006, MarketPulse is a free news site that provides full-time coverage of the world's largest financial markets, focusing on forex, commodities, and global indices research and analysis. Armed with a global team of securities analysts and strategists, Market Pulse provides timely, accurate, and informative research on major macroeconomic trends, technical analysis, and worldwide events that impact different asset classes and investors.

Related Items

This Entertainment Leader is Still Crushing It

The S&P 500 fell to its lowest level since early July and pierced its 200-day moving average last week. Chartists looking for stocks that held up better during this decline can use these levels for comparison. Stocks that did not break below their August lows and 200-day moving averages held up bet ...

Markets are cracking. Is it just another dip or are we witnessing a bigger event in the making?

The general market conditions for the various major indexes have been commented on extensively by other commentators here on the site. There is no doubt that there is more rumble in the markets now than we have seen for a long time. IMHO this makes it an interesting time for analysts and investor ...

Asia market update : Focus on Yuan

Asia market update: Focus on Yuan   Surprising busy start even with the absence of Hong Kong in the mix The hawkish warm-up ahead of tonight’s FOMC minutes delivered by San Francisco’s new President Daly is creating some noise today after she said late in the NY session she does think it’s a ...

Welcome to 'Analyzing India'!

I seize this opportunity to welcome you all to this Blog "Analyzing India". It is beyond all doubts that India remains one of the most important global markets. Out of all the Emerging Markets (EMs), the world's largest democracy certainly remains the most promising one. As a brief introduc ...

Stranded assets? Only if government strands them

Author: Kenneth P. Green World oil consumption may expand to 100 million barrels per day in the next three months. Read more about Stranded assets? Only if government strands them Tags:  oil and gas oil production oil transport energy policy natural gas ...

GBP/USD – British pound pushes above 1.32 as wage growth rises

GBP/USD has gained ground in the Tuesday session. In the North American session, the pair is trading at 1.3198, up 0.34% on the day. On the release front, the focus was on British job numbers. Wage growth climbed 2.7%, edging above the estimate of 2.6%. The unemployment rate remained unchanged at 4 ...

You just know that something good is going to happen

Cloudbusting: you  just know that something good is going to happen   US markets In the span of a mere 24 hours two of my most pressing question may have been answered, correctly, can the anomalously robust US equity market hang on in the face of mounting global risks? And are we entering a perio ...