Pound Rises As U.K. Retail Sales Rebound
2017年5月18日 - 2:10PM
RTTF2
The British pound strengthened against the other major
currencies in the early European session on Thursday, after data
showed that U.K. retail sales recovered at a faster than expected
pace in April.
Data from the Office for National Statistics showed that U.K.
retail sales volume including auto fuel grew 2.3 percent
month-on-month, reversing a 1.4 percent drop in March. This was the
fastest growth since January 2016, and above the expected rate of
1.1 percent. On a yearly basis, overall sales volume growth doubled
to 4 percent in April from 2 percent in March. Sales were forecast
to rise 2.1 percent.
Likewise, retail sales excluding auto fuel climbed 2 percent in
contrast to March's 1.2 percent decrease. Economists had forecast a
moderate 1 percent expansion.
Excluding auto fuel, retail sales climbed 4.5 percent, following
March's 2.8 percent increase. Economists had expected sales to
climb 2.6 percent.
In the Asian trading, the pound held steady against its major
rivals.
In the European trading, the pound rose to nearly a 8-1/2-month
high of 1.3042 against the U.S. dollar, from an early low of
1.2936. The pound may test resistance near the 1.31 region.
Against the euro and the Swiss franc, the pound advanced to
2-day highs of 0.8539 and 1.2773 from early lows of 0.8609 and
1.2683, respectively. If the pound extends its uptrend, it is
likely to find resistance around 0.83 against the euro and 1.30
against the franc.
The pound edged up to 144.72 against the yen, from an early near
3-week low of 143.39. On the upside, 148.00 is seen as the next
resistance level for the pound.
Looking ahead, at 7:00 am ET, Lorie Logan Senior Vice President
at Federal Reserve Bank is expected to speak at the "Remarks by
Lorie Logan", in New York.
In the New York session, U.S. jobless claims for the week ended
May 13 and U.S. leading indicators for April are slated for
release.
At 8:30 am ET, European Central Bank Executive Board Member Yves
Mersch will give Keynote presentation at Government Borrowers Forum
hosted by the European Stability Mechanism and the Ministry of
Finance of Luxembourg, in Luxembourg.
At 8:45 am ET, ECB Board Member Sabine Lautenschlager is
expected to deliver a speech at the IBF Board meeting in
Berlin.
At 1:00 pm ET, European Central Bank President Mario Draghi is
expected to speak at the University of Tel Aviv.
At 1:15 pm ET, Federal Reserve Bank of Cleveland President
Loretta Mester is expected to speak on Economy and Monetary Policy
before the Economic Club of Minnesota.
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