Recaptures critical trendline resistance at 1.2275

GBP/USD bulls are fighting the bearish odds, re-attempting the upside. UK political jitters, mixed Retail Sales data could remain a drag on cable. Cable bulls struggle to yield a break above the key 1.2275 hurdle. GBP/USD is moving back and forth in a 40-pips narrow range so far this Friday, now attempting another bounce towards … Read more

GBP/USD slides below 1.2300 as downbeat UK Retail Sales join political jitters

GBP/USD takes offers to justify downbeat UK Retail Sales data for May. UK Retail Sales shrank more-than-expected on YoY but improved on MoM. Conservatives Chairman Oliver Dowden resigns after a humiliating defeat in UK by-elections. USD pullback tests bears but recession woes, BOE-linked disappointment keep bears hopeful. GBP/USD slips 20-pips to refresh intraday low around … Read more

GBP/USD retreats towards 1.2250 as Conservatives fail in UK by-elections, Retail Sales eyed

GBP/USD pulls back from intraday high during the first positive day in three. Conservatives lost two Parliamentary seats in the UK by-elections, challenges to PM Johnson mounts. Downbeat UK data and disappointment from BOE keep cable bears hopeful. British Retail Sales for May will be important considering its lion share in GDP. GBP/USD justifies UK’s … Read more

UK CBI Retail Sales drop to -5 in June vs. -1 previous

The Confederation of British Industry’s (CBI) latest Distributive Trades Survey showed on Thursday, the UK’s Retail Sales Balance dropped to -5 in June versus May’s -1 print. Additional details June Retail Sales 3-month average -14 vs. May -9, lowest in more than a year. Retail Sales balance for the time of year -19 in June … Read more

Retail sales to moderate amid inflation and higher rates – NFB

Data released on Tuesday showed retail sales in Canada rose 0.9% on April, surpassing expectations, even as March’s figures were revised higher. According to analysts at the National Bank of Canada expect retail sales to moderate price increases and higher interest rates. Key Quotes: “Consumer expenditures on goods came out a little better than expected. … Read more

USD/CAD keeps the red post-Canadian Retail Sales, holds above 1.2900 mark

USD/CAD watch some follow-through selling for the second straight day on Tuesday. Rising oil prices, upbeat Canadian data underpinned the loonie and exerted pressure. Rallying US bond yields acted as a tailwind for the USD and helped limit deeper losses. The USD/CAD pair managed to find decent support near the 1.2900 mark on Tuesday and … Read more

China’s May Industrial Output unexpectedly rebounds 0.7%, Retail Sales beat estimates

China’s May Retail Sales YoY, arrived at -6.7% vs. -7.1% expected and -11.1% previous while Industrial Production YoY came in at 0.7% and -0.7% estimated and -2.9% prior. Meanwhile, the Fixed Asset Investment YoY rises to 6.2% vs 6.0% expected and 6.8% last. Additional details China May nationwide survey-based jobless rate at 5.9%. China May … Read more

Chinese economy likely rebounded in May – Yicai

The Chinese economy likely rebounded in May as declines in industrial output and consumption narrowed, reported, citing economists. Additional takeaways “Economists surveyed by Yicai expected industrial output fell 0.49% y/y in May, compared to the 2.9% decline in April, as power consumption by industrial enterprises in Shanghai recovered to 80.5% of the same level … Read more

Eurozone Retail Sales rose by 3.9% YoY in April vs. 5.4% expected

Eurozone Retail Sales fell by 1.3% MoM in April vs. 0.3% expected. Retail Sales in the bloc arrived at 3.9% YoY in April vs. 5.4% expected. Eurozone’s Retail Sales dropped by 1.3% MoM in April versus 0.3% expected and 0.3% last, the official figures released by Eurostat showed on Friday. On an annualized basis, the … Read more