Pound Sterling Price News and Forecast: GBP/USD remains steady after five days of losses

When are the UK Retail Sales and how could they affect GBP/USD?

The United Kingdom (UK) docket has the Retail Sales data for September to be released by the Office for National Statistics (ONS) on Friday, later this session at 06:00 GMT.

UK Retail Sales are expected to decline by 0.2% month-over-month (MoM) in September, swinging from a 0.5% increase seen in August. On an annualized basis, Retail Sales are seen rising 0.6% during the reported month, inching lower from 0.7% prior. Core Retail Sales, stripping the basket of motor fuel sales, are anticipated to have climbed by 0.7% year-over-year (YoY), lower than the previous reading of 1.2%. Read more...

GBP/USD slides for fifth day ahead of UK Retail Sales and US CPI

GBP/USD tilted into the red for a fifth straight trading day on Thursday, continuing to test the waters just north of the 1.3300 handle. Cable bids have fallen steadily after the pair failed to push its way above the 50-day Exponential Moving Average (EMA), but is catching firm support on the low of a near-term consolidation zone.

UK Retail Sales will kick off Friday’s economic data docket during the London market session. UK Retail Sales are expected to contract a slight 0.2% in September, down from the previous 0.56% uptick. UK Purchasing Managers Index (PMI) survey results for October are due slightly later. They are generally expected to show a slight improvement in how UK business respondents view the UK’s economic state. Read more...

GBP/USD slips as softer UK inflation boosts BoE dovish bets

GBP/USD retreats on Thursday, down over 0.21% after the latest inflation report in the United Kingdom (UK) increased the odds for a Bank of England (BoE) rate cut by the end of the year. At the time of writing, the pair trades at 1.3326 after reaching a high of 1.3360. A scarce economic docket in the US and the UK keeps traders waiting for Friday’s US Consumer Price Index (CPI) report, with estimates of headline and core inflation at 3.1%. In the meantime, Existing Home Sales in the US grew 1.5% in September, compared to August’s -0.2% contraction. Sales rose by 4.06 million, up from 4 million.

The White House trade rhetoric on China keeps investors anxious and turning to haven assets like the US Dollar and Gold, which has recovered some ground, up over 1%. On Wednesday, Reuters sources revealed that the Trump administration plans to restrict globally produced exports to China made with or containing US software, in retaliation for China’s export controls on rare earths and port fees to US vessels. Read more...