Macro Trades: GBP/USD Light/USD [Video]
|GBP/USD: UK Retail Sales
The British Pound depreciated against the US Dollar, following the UK Retail Sales data release on Thursday at 08:30 GMT. The GBP/USD exchange currency rate lost 8 pips or 0.06% during a minute, right after the release. The British Pound continued trading at the 1.3101 area.
The Office for National Statistics released UK Retail Sales data that came out lower-than-expected of negative 0.8% compared with forecasted negative 0.4%.
The ONS Head of Retail Sales Rhian Murphy said: Retail continued to grow in the three months to September with jewellery shops and online stores seeing particularly strong sales. This was despite a stark slowdown in food sales in September, following a bumper summer."
Light/USD: US Crude Oil Inventories
Oil price have decreased after the US Crude Oil Inventories data release on Wednesday at 14:30 GMT. The one-minute candle lost 68 pips, or 0.96% right after the data release. In the next minutes the rate was trading at the 70.10 level.
The Energy Information Administration released the US Crude Inventories data that came out lower-than-expected of 6.5M, compare to forecasted 1.6M
"A tick higher in refining activity and a drop in production due to hurricane activity in the Gulf was not enough to halt a fourth consecutive climb in (inventories)- and a solid one at that," said Matt Smith, director of commodity research at ClipperData in Louisville, Kentucky.
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