Three Currencies to Watch This Week
We prepared an outlook of major events of this week. Check it and be ready!
Is the GBP vulnerable to the retail data?
Information is not investment advice
Great Britain will release the retail indicators at 11:30 MT time, on February 20.
Instruments to trade: GBP/USD, GBP/JPY, EUR/GBP
The indicator of retail sales shows the monthly change in the value of inflation-adjusted sales at the retail level. It helps to understand how much money consumers spend, that is, how economically active the population is. A higher level of indicator increases the value of domestic currency. Last time the level of retail sales declined by 0.6%. The disappointing release increased concerns over the negative impact of Brexit. As a result, the British pound weakened.
• If the actual level of retail sales is higher than analysts’ expectations, the GBP will rise;
• If the actual level of retail sales is lower than analysts’ expectations, the GBP will fall.
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