Strong USD is back
Jump in to know the latest market news and trade ideas for today!
Friday is perfect time to trade GBP
What will happen?
UK retail sales will be out at 9:00 MT on March 26. This data is significant for traders as it is the main gauge of consumer spending, which accounts for the majority of overall economic activity. Last time, retail sales in the United Kingdom were much worse than expected as they plunged by 8.2%, which was the largest drop since a record 18% fall in April. Obviously, this poor data was caused by the coronavirus restrictions. However, things are getting better. Due to UK’s extraordinary vaccination pace, the economy has started recovering faster than expected. Major banks have already upgraded their projections for the UK’s economic growth. Therefore, we might expect encouraging numbers this time.
How to trade on UK retail sales?
What you need is just open the economic calendar at 9:00 MT on Friday and compare the actual numbers with the expected.
- If the retail sales are greater than the forecast, the GBP will rise,
- Otherwise – fall.
Instruments to trade: GBP/USD, EUR/GBP, GBP/CHF, GBP/CAD
Similar
USD is at two-week low, gold rises
Here are a short wrap of the latest news and the tech analysis of EUR/USD, AUD/USD, and gold.
Any optimism for the Canadian labor market?
Canadian Employment Rate and Unemployment Change are announced on April 9, at 15:30.
Latest news
BTC skyrocketed as first crypto exchange goes public!
Coinbase Global Inc., the leading cryptocurrency exchange in the US, will go public on the Nasdaq index on April 14!
Will US inflation push USD further up?
The American inflation rate is announced on Tuesday at 15:30 MT. It’s an important event for traders as it will impact hugely currency pairs with the USD.
USD, gold, Alibaba and more on April 12
In this article, you'll find the latest news and tech analysis of EUR/USD, gold, and GBP/USD!
Deposit with your local payment systems
