The GBP/USD pair benefits from the lack of news and tries to recover.
On Tuesday afternoon, the British Pound is rising a bit against the USD. the current quote for the instrument is 1.2900. Yesterday, the Pound fell to the two weeks’ lows influenced by technical signals and the USD non-stability.
The statistics published today showed that the BRC Retail Sales Monitor may add 1.2% y/y in August after losing 0.4% y/y the month before. The report is provided by the British Retail Consortium, which uses historic data and internal forecasts in its expectations.
There will be more reports this week, which are likely to make the Pound fans think about the future outlook. Today, the BoE representatives Haldane and Broadbent are going to speak. Their speeches are very unlikely to contains anything interesting or significant, but one should listen to them anyway.
On Wednesday, the United Kingdom will report on the Unemployment Rate and the Average Earnings Index in May, and the Claimant Count Change in June. On Thursday, the Bank of England will publish the Credit Conditions Survey. The Labor Market statistics is very interesting for investors, because it may confirm or deny speculations about the weakness of the British economy I the second quarter of 2017. So far, the Labor Market seemed rather fine.
RoboForex Analytical Department