An opportunity to trade GBP on the news

An opportunity to trade GBP on the news

What will happen?

Great Britain will release retail sales for May on June 18, at 09:00 MT time. One cannot underestimate the importance of this indicator. The change in retail sales shows how active consumers are, how willing they are to spend in various shops. The more they spend, the better for the UK economy and, hence, for the British pound.

In April, when lockdown restrictions were lifted for non-essential shops, British retailers managed to return to normal sales volumes. If this trend has continued in May, it will be a positive sign for the nation’s GDP and currency.

How to trade on the British retail sales?

The indicator will have an impact on pairs containing the GBP.

  • If it turns out to be higher-than-expected, the GBP will gain.
  • Alternatively, GBP will lose.

Check the economic calendar

Instruments to trade: GBP/USD, EUR/GBP, GBP/JPY.

GBP June 18.jpg

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Similar

Strong US Retail Sales Pressed Gold
Strong US Retail Sales Pressed Gold

The US showed strong retail sales for August despite the spread of the Delta virus strain. As a result, the US dollar rocketed and gold dropped by 2286 points in half an hour after the release.

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