empty
 
 
25.05.2018 09:08 AM
Review of GBP / USD pair as of 05/25/2018

Data on retail sales in the UK surpassed the most bold expectations, as their growth rates accelerated from 1.3% to 1.4%, while the slowdown was predicted to be 0.1%. Moreover, American statistics proved to be extremely weak. The number of applications for unemployment benefits increased by 40,000, , which was worse than the forecast of 39,000. However, the reduction in the number of initial applications was expected, but it increased. Also, sales of housing on the secondary market declined not by 0.2%, but by 2.5%. However, all this were not enough to grow the pound, which pulled a single European currency, as the content of the text of the minutes of the ECB's meeting on the monetary policy left little doubt that the regulator will extend the quantitative easing program.

Today, the preliminary data on GDP of the U.K. for the first quarter is coming out, and they should show a slowdown in economic growth from 1.4% to 1.2%. Also, investment growth rates are expected to slow from 2.6% to 2.4%, so that the pound clearly has no reason to be happy. However, the U.S. forecasts a reduction in orders for durable goods by 1.4%. Thus, the pound is likely to consolidate at 1.3375.

This image is no longer relevant

Mark Bom,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback