Pound Climbs As UK Retail Sales Rise More Than Forecast
2017年8月17日 - 2:18PM
RTTF2
The pound advanced against its key counterparts in the early
European session on Thursday, following the release of data showing
better than expected UK retail sales growth in July driven by food
store sales.
Data from the Office for National Statistics showed that retail
sales volume grew 0.3 percent month-on-month in July, the same rate
as logged in June. Sales were expected to rise at a slower pace of
0.2 percent.
Excluding auto fuel, retail sales climbed 0.5 percent after
rising 0.6 percent in June. This was also faster than the expected
0.1 percent.
On a yearly basis, retail sales volume growth slowed to 1.3
percent from 2.8 percent in June. Economists had forecast 1.4
percent annual growth.
Likewise, sales excluding auto fuel, grew 1.5 percent, weaker
than June's 2.8 percent increase, but better than 1.2 percent
forecast.
Investors digested the Fed minutes released overnight, which
showed that officials were more worried about inflation, with a
fissure appear to be developing over when to raise interest
rates.
The pound showed mixed performance in the Asian session. While
the pound held steady against the euro and the franc, it dropped
against the yen. Against the greenback, the currency rose. The
pound bounced off to 141.99 against the Japanese yen, from a 6-day
low of 141.51 hit at 9:30 pm ET. The pound is likely to find
resistance around the 143.00 region.
Data from the Ministry of Finance showed that Japan logged a
merchandise trade surplus of 418.8 billion yen in July.
That topped forecasts for a surplus of 327.1 billion yen but was
down from 439.8 billion yen in June.
The pound reversed from an early more than 3-week low of 1.2405
against the Swiss franc, rebounding to 1.2455. The next possible
resistance for the pound-franc pair is seen around the 1.26
area.
The pound rose back to 1.2904 against the dollar, just few pips
away to pierce its early 2-day high of 1.2909. Continuation of the
pound's uptrend may see it challenging resistance around the 1.30
level.
The pound edged up to 0.9094 against the euro, after having
fallen to 0.9136 at 2:45 am ET. If the pound extends rise, 0.89 is
likely seen as its next resistance level.
Looking ahead, the European Central Bank will release minutes
from the July 19-20 monetary policy meeting at 7:30 am ET.
In the New York session, U.S. weekly jobless claims for the week
ended August 12, industrial production and leading indicators for
July as well as Canada manufacturing sales for June are set for
release.
Dallas Fed President Robert Kaplan speaks at the "Dialogue with
the Dallas Fed" event hosted by the Lubbock Chamber of Commerce in
Texas at 1:00 pm ET.
Minneapolis Fed President Neel Kashkari speaks at an event
hosted by the Edina Rotary Club in Minnesota at 1:45 pm ET.
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