The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
GBP/USD moves down on UK data
On Thursday, the British pound decreased versus the greenback, suppressed by the publication of dismal British retail sales data. Moreover, market participants were waiting for the Bank of England’s policy verdict.
The currency pair GBP/USD reached 1.2704 during European morning trade, which the lowest outcome since Tuesday.
According to the UK Office for National Statistics, retail sales went down 1.2% in May, while financial experts and investors hoped for a 0.8% descend.
The British pound was still under pressure amid surging political uncertainty in the United Kingdom.
The Bank of England is supposed to leave its monetary policy intact, though traders relish a though of getting extra clues on future policy moves.
The US dollar remained quite vulnerable amid everlasting American political turmoil.
The major British currency was nearly intact versus the common currency, with EUR/GBP keeping to 0.8802.
We prepared an outlook of major events of this week. Check it and be ready!
Here you'll find what awaits the market this week, from the CPI release to a possible gold plunge.
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Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!
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