Circumstances are pushing the Pound. Overview for 08.05.2019
GBPUSD has been retreating for the third trading session in a row; the Brexit once again is drawing attention to itself.
On Wednesday afternoon, the British Pound is falling against the USD. The current quote for the instrument is 1.3043.
The Brexit issue, which went to the back burner for a while, is still here anyway. Currently, investors are focused on the pressure that is put on the British Prime Minister Theresa May by other British policymakers and their attitude towards The Brexit documents and negotiations. Most of them haven’t changed their stance. This news is bad for the Pound.
In the morning, the United Kingdom reported on the BRC Retail Sales Monitor, which added 3.7% y/y in April, better than both previous and expected reading (-1.1% y/y and +2.4% y/y respectively).
In the afternoon, the Halifax agency will publish its HPI in May. The indicator is expected to recover by 0.3% m/m after losing 1.6% m/m the month before. The British real estate market is obviously having hard times.
Both these reports are quite neutral for the British Pound, but may be useful from the fundamental point to give insight into what is happening in the country’s economy.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
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