GBP/USD has posted slight losses in the Tuesday session, erasing the gains seen on Monday. In North American trade, GBP/USD is trading at 1 1.3046, down 0.41% on the day. In economic news, British employment numbers were mixed. Wage growth edged up to 3.5%, matching the estimate. However, unemployment claims rose to 28.3 thousand, well above the estimate of 17.3 thousand. There are no major events in the U.S. On Tuesday, the U.K. releases a host of inflation indicators, led by CPI, which is expected to edge up to an even 2.0%.
How To Trade Forex Using Support and Resistance Levels
There are no major U.S events until Thursday, when we’ll get a look at retail sales reports. February data was disappointing, as both retail sales and core retails recorded declines. This pointed to weak consumer spending, and sent the greenback lower. However, the markets are expecting much better news for March, with retail sales expected in at 0.9% and core retail sales at 0.7%. If the actual figures are within expectations, the U.S. dollar could respond with gains.
No comments:
Post a Comment