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Pound rebounds as retail sales sparkles - MarketPulse
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Pound higher ahead of UK job numbers
February 22, 2021SharePrint
The British pound continues to gain ground. Currently, GDP/USD is trading at 1.4047, up 0.27% on the day. The pound has posted two winning sessions and is again in positive territory on Tuesday. The currency has enjoyed an excellent February, with gains of 2.5 per cent.
The UK releases key employment data on Tuesday (7:00 GMT). Unemployment claims fell to 7.0 thousand in December, after a sharp gain of 64.3 thousand beforehand. The estimate for January stands at 13.8 thousand. Wage growth has been accelerating over the past five months, improving to 3.6% in December. The upswing is projected to continue, with a forecast of 4.1%. At the same time, the unemployment rate has been rising and is expected to edge up from 5.0% to 5.1%.
European Market Open: UK retail sales down but consumer confidence growing
Joshua Warner February 19, 2021 7:23 AM
European markets are expected to open largely lower today as investors prepare for PMI data this morning, following UK consumer confidence and retail sales figures released this morning. Share:
G7 leaders to hold a virtual meeting today to discuss vaccines, the global economic recovery and the challenges posed by China.
UK consumer confidence has risen to its highest level since the pandemic began, while retail sales plunged in January after the country re-entered lockdown after the holiday season.
Facebook continues to draw criticism for its news blackout in Australia, while Uber is waiting for the UK Supreme Court to make a landmark ruling on the gig economy today.
Pound hits 1.40 despite soft UK retail sales
February 19, 2021SharePrint
The British pound has posted small gains in the Friday session. Currently, GDP/USD is trading at 1.4000, up 0.18% on the day.
Sterling rallies past 1.40 line
The pound enjoyed an excellent Thursday, as GBP/USD climbed close to 1 percent. The pair has continued to move higher on Friday and breached the 1.40 level, a symbolic level that had held since April 2018. The dollar index has dropped on Friday 0.38%, to 90.24. There is support at 90.00, and a daily close below this level would signal a downtrend for the US currency.
UK Retail Sales slide
UK Retail Sales suffered a miserable start to the year, with a read of -8.2% for January. This was the second decline in three months and the weakest reading since April. This sharp decline resulted from the tighter health restrictions, which severely crimped consumer spending.
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