The volatility that the markets experienced last week promises the second tidal wave! What should your favorite assets anticipate during the first week of February?
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.
Instruments to trade: GBP/USD, EUR/GBP, GBP/JPY.
The Bank of England will announce its policy statement on December 16, Thursday, at 14:00 GMT+2 (MetaTrader time). It will affect all the pairs with the British pound.
The United Kingdom will publish the Inflation Rate on November 17, at 09:00 MT (GMT+2). How will it impact the markets?
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.