The pound edged lower against the U.S. dollar on Thursday, after the release of downbeat U.K. retail sales data, although hopes for a rate hike by the Bank of England later in the year continued to support. GBP/USD hit 1.5584 during European morning trade, the session low; the pair subsequently consolidated at 1.5597, easing 0.09%.The U.K. Office for National Statistics reported on Thursday that retail sales declined by 0.2% last month, disappointing forecasts for a gain of 0.3%. Retail sales in May rose by 0.3%, whose figure was revised from a previously reported gain of 0.2%. Year-on-year, retail sales rose 4.0% in June, below expectations for a 4.9% gain, after rising at a rate of 4.7% in May. Core retail sales, which exclude automobile sales, fell by 0.2% last month, compared to forecasts for a 0.3% rise, after gaining 0.4% in May.
RECOMMENDATION :
BUY GBP/USD ABOVE 1.5535 TARGET 1.5555 1.5585 SL 1.5505
SELL GBP/USD BELOW 1.5495 TARGET 1.5475 1.5445 SL 1.5525
Click Here For Free Signals OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance About KLSE online Feel Free To Mail Us at : info@epicresearch.my
No comments:
Post a Comment