UK retail sales to decline in March – Nomura

Dhwani Mehta FXStreet

In the view of the analysts at Nomura, the UK retail sales numbers are expected to decline in the month of March, tracking the downbeat readings the BRC reported earlier this month.

Key Quotes:

“There is more than the usual uncertainty associated with the March sales print.

On the positive side, the BRC reported a rise in sales growth during the month. However, much of that could be due to the early timing of Easter (which is not adjusted for by the BRC, but is by the ONS).

The CBI reported the sales balance was far more downbeat (it turned negative in March) and we expect the dominant factor in the official data will be the negative effect on footfall of the cold weather and snow. As a result, we forecast a decline in official sales in March.”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

GBP/USD: Downward-sloping trendline near 1.3470 remains key barrier

The British pound faces selling pressure against its major currency peers, trading 0.1% lower at around 1.3420 against the US Dollar during the European trading session on Tuesday.

Euro flirts with daily tops near 1.1530

EUR/USD has regained momentum after Monday’s pullback, advancing past the 1.1500 barrier to reach daily highs on turnaround Tuesday. Hopes for a diplomatic solution to the Middle East crisis continue to weigh on the US Dollar, alongside disheartening June US JOLTs figures.

Ripple Price Forecast: XRP extends technical weakness despite whales increasing exposure

Ripple (XRP) declines for a second day in a row, trading around $1.07 at the time of writing on Tuesday. The remittance token has continued to sustain a bearish outlook, aligning with the broader cryptocurrency market.

Volatility waits for fresh catalyst ahead of US-Iran 'talks'

EU mid-market update: SpaceX and AMD to report after the close; Volatility waits for fresh catalyst ahead of US-Iran 'talks'. - Middle East and energy drives sentiment still.

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.