UK: Upside surprise in February retail sales - TDS

Sandeep Kanihama FXStreet Contributor

Analysts at TD Securities point out that the UK’s retail sales surprised to the upside at +0.4% m/m in February (mkt: -0.4%).

Key Quotes

“Gains were generally broad-based across components, with food sales the one notable weak sector (-1.2% m/m); non-food sales were up 0.9%.”

“Today's report leaves the Q1 snapshot around 1.1% q/q (assuming no change in March), and reflects households' long-held determination to ignore Brexit-induced uncertainty when it comes to their spending patterns.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

EUR/USD hovers above 1.1800 as USD stabilizes

EUR/USD treads water above 1.1800 in the European session on Thursday. The US Dollar stabilizes, following the recent decline fuelled by concerns about the economic fallout from US President Trump's erratic trade policies, capping the pair's upside. All eyes now remain on Lagarde's speech and US-Iran nuclear talks.

GBP/USD extends recovery to near 20-day EMA as US Dollar weakens

The Pound Sterling holds onto weekly gains around 1.3565 against the US Dollar during the Asian trading session on Thursday. The GBP/USD pair trades firmly as the US Dollar remains under pressure due to uncertainty surrounding the United States trade policy outlook.

Gold clings to gains amid sustained safe-haven flows ahead of US-Iran talks

Gold sticks to its modest intraday gains through the first half of the European session on Thursday, with bulls still awaiting a sustained move and acceptance above the $5,200 mark before placing fresh bets.

Stellar: Relief bounce fades as bearish undertone persists

Stellar is trading around $0.16 at the time of writing on Thursday after rebounding more than 8% in the previous day. Derivatives data paints a negative picture as XLM’s short bets hit a monthly high while Open Interest continues to decline.

Nvidia delivers another monster earnings report, and forecasts big things to come

It was another monster earnings report from Nvidia for fiscal Q4. Revenues were $68.1bn, smashing estimates of $65bn. Gross profit margin was a healthy 75%, up from 73.5% in the prior quarter, and the outlook for this quarter was monstrous.

Solana strikes key resistance with double-digit gains

Solana trades at $88 at press time on Thursday, after an 11% upswing the previous day within a broader consolidation range of roughly three weeks. Institutional demand for Solana heightens as US spot SOL Exchange Traded Funds record $30 million of inflow on Wednesday.