GBP lost balance. Overview for 21.04.2023
The British pound against the US dollar on Friday is retreating. The current quote is 1.2400.
In the morning, Britain published curious reports. The GfK CCI in the country in April rose to -30 points from -36 points previously. The improvement here could be explained by the decline in the pressure from consumer prices, yet there is nothing cheerful in this realm. This means British people think that the country is at the peak of inflation right now, and later on things will be getting better.
Retail sales in Britain in March slid down 0.9% m/m instead of the 0.5% forecast. A month before, the index had grown some 1.1% m/m. This does have much to do with high consumer prices.
Today Britain will issue the prelim PMI in production and non-production for April. Both indicators might grow, which would be good local support for the pound.
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