When is UK retail sales and how could affect GBP/USD?
|UK retail sales Overview
The retail sales data is expected to rebound to 0.4% m/m in February, while on annualized basis, retail sales are expected to jump to 2.6%. In January, retail sales was seen at -0.3% over the month. The report will be published later this session at 0930GMT.
Deviation impact on GBP/USD
Readers can find FX Street's proprietary deviation impact map of the event below. As observed the reaction is likely to remain confined between 10 and 70 pips in deviations up to 3.5 to -1.5, although in some cases, if notable enough, a deviation can fuel movements of upto 100 pips.
How could affect GBP/USD?
A better-than expected retail sales report could help the GBP bulls to extend the bullish momentum beyond 1.25 handle on a sustained basis. While a failure to meet estimates would knock-off the pair to 1.2450 support.
However, the reaction to the data may remain limited, as the main marketing moving event for the major today remains the Trumpcare bill vote by the House of Representatives.
Key notes
GBP/USD holding at an important juncture ahead of UK retail sales and Trump healthcare vote
The greenback paused its recent descent and held steadily in range as investors shift their focus on today's vote on the US President Donald Trump's American Health Care Act in House.
About UK retail sales
The retail Sales released by the National Statistics measures the total receipts of retail stores. Monthly percent changes reflect the rate of changes of such sales. Changes in Retail Sales are widely followed as an indicator of consumer spending. Generally speaking, a high reading is seen as positive, or bullish for the GBP, while a low reading is seen as negative or bearish.
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