Pound Rises As U.K. Retail Sales Rebound

Date : 18/05/2017 @ 07h10
Source : RTTF2
Valeur : Livre Sterling contre Yen Japonais (GBPJPY)
Cours : 149.168  -0.008 (-0.01%) @ 09h49
Livre Sterling Yen Japonais Cours Graphique

Pound Rises As U.K. Retail Sales Rebound

Livre Sterling Yen Japonais (FX:GBPJPY)
Graphique Historique de la Devise

1 an : De Mar 2017 à Mar 2018

Plus de graphiques de la Bourse Livre Sterling Yen Japonais

The British pound strengthened against the other major currencies in the early European session on Thursday, after data showed that U.K. retail sales recovered at a faster than expected pace in April.

Data from the Office for National Statistics showed that U.K. retail sales volume including auto fuel grew 2.3 percent month-on-month, reversing a 1.4 percent drop in March. This was the fastest growth since January 2016, and above the expected rate of 1.1 percent. On a yearly basis, overall sales volume growth doubled to 4 percent in April from 2 percent in March. Sales were forecast to rise 2.1 percent.

Likewise, retail sales excluding auto fuel climbed 2 percent in contrast to March's 1.2 percent decrease. Economists had forecast a moderate 1 percent expansion.

Excluding auto fuel, retail sales climbed 4.5 percent, following March's 2.8 percent increase. Economists had expected sales to climb 2.6 percent.

In the Asian trading, the pound held steady against its major rivals.

In the European trading, the pound rose to nearly a 8-1/2-month high of 1.3042 against the U.S. dollar, from an early low of 1.2936. The pound may test resistance near the 1.31 region.

Against the euro and the Swiss franc, the pound advanced to 2-day highs of 0.8539 and 1.2773 from early lows of 0.8609 and 1.2683, respectively. If the pound extends its uptrend, it is likely to find resistance around 0.83 against the euro and 1.30 against the franc.

The pound edged up to 144.72 against the yen, from an early near 3-week low of 143.39. On the upside, 148.00 is seen as the next resistance level for the pound.

Looking ahead, at 7:00 am ET, Lorie Logan Senior Vice President at Federal Reserve Bank is expected to speak at the "Remarks by Lorie Logan", in New York.

In the New York session, U.S. jobless claims for the week ended May 13 and U.S. leading indicators for April are slated for release.

At 8:30 am ET, European Central Bank Executive Board Member Yves Mersch will give Keynote presentation at Government Borrowers Forum hosted by the European Stability Mechanism and the Ministry of Finance of Luxembourg, in Luxembourg.

At 8:45 am ET, ECB Board Member Sabine Lautenschlager is expected to deliver a speech at the IBF Board meeting in Berlin.

At 1:00 pm ET, European Central Bank President Mario Draghi is expected to speak at the University of Tel Aviv.

At 1:15 pm ET, Federal Reserve Bank of Cleveland President Loretta Mester is expected to speak on Economy and Monetary Policy before the Economic Club of Minnesota.

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