Pound Sterling steadies above 1.3450 following UK Retail Sales data

热门文章

GBP/USD steadies after three days of losses, trading around 1.3470 during the Asian hours on Friday. The pair stays calm following the release of United Kingdom (UK) Retail Sales data, which rebounded 0.7% month-over-month (MoM) in March after declining by a revised 0.6% in February.

GBP/USD remains flat after UK Retail Sales rebounded 0.7% MoM in March, against a 0.1% growth expected.
US Dollar gains on safe-haven demand amid persistent uncertainty over the US–Iran conflict.
Lebanon seeks one-month ceasefire extension, though Israel’s ambassador says outcome “not 100%” certain.

The annual UK Retail Sales rose 1.7% in March, slightly below the prior 1.8% (revised from 2.5%) but above expectations of 1.3%. Core Retail Sales, excluding auto fuel, increased 0.2% MoM, reversing a revised 0.6% decline (from -0.4%). On an annual basis, core Retail Sales grew 1.7% in March, down from February’s 2.7% (revised from 3.4%).

The GBP/USD pair may further depreciate as the US Dollar (USD) receives support from safe-haven demand amid persistent uncertainty surrounding the United States (US)–Iran conflict. The Guardian reported on Thursday that Lebanon will push for a one-month extension of the current ceasefire with Israel during a second round of direct talks in Washington. Israel’s Ambassador to the United Nations (UN), Danny Danon, said in a CNN News interview on Friday that the Lebanon ceasefire extension is "not 100%".

The US military intercepted two Iranian oil supertankers attempting to evade its blockade, as Washington presses ahead with efforts to curb Iran’s shipping. Meanwhile, Tehran continues to threaten vessels in the Strait of Hormuz. US military officials are also preparing contingency plans to target Iran’s capabilities in the Strait should the current ceasefire collapse.

Economic Indicator

Retail Sales (MoM)

The Retail Sales data, released by the Office for National Statistics on a monthly basis, measures the volume of sales of goods by retailers in Great Britain directly to end customers. Changes in Retail Sales are widely followed as an indicator of consumer spending. Percent changes reflect the rate of changes in such sales, with the MoM reading comparing sales volumes in the reference month with the previous month. Generally, a high reading is seen as bullish for the Pound Sterling (GBP), while a low reading is seen as bearish.