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UK retail sales turned out to be much better than expected

British
pound on Friday recovers incurred
on the eve of the loss and paired with the American
currency rises by 0.2%,
to
$ 1.3874, and paired with a single European – for
0,02%,
up to 86.81 pence.
The growth driver of quotations was
finally emerging signs of confident
rebuilding the UK after
unprecedented in the last 300 years
annual decline. It is about a very
encouraging news of significant
increasing
past retail sales in the country
month. According to the Office
national statistics, sales volumes
in March unexpectedly grew by 5.4% in
compared to February. Especially noticeable
rose
sales
in clothing stores. Analysts,
by the way, they expected a much more modest
the result is an increase of only 1.5%.

Judging by
across the board, British consumers are clearly
prepared for partial cancellation
quarantine restrictions. Their moods
this month have risen to the very
high since the beginning of the COVID-19 pandemic.
Thus, the consumer confidence index
GfK rose to -15 in April from -16 in March, which is
the highest since the beginning of March
last year, that is, even before the full
lockdown.

Also read  Plan for the American session on April 29 (analysis of morning deals). The euro has corrected after the data on the euro area.

Leader
global research department
Invesco Asset Allocation Paul Jackson
convinced that such optimistic data
on retail sales is another
UK return certificate
to a normal life. Easing quarantine
restrictions promises to accelerate in the country
this month. The authorities have already allowed
open secondary outlets.

Optimism
adds unexpected growth in PMI
(preliminary value of the composite
purchasing managers index)
UK to 60.1 in April from March
56.3, highest since November
year 2013. By the way, analysts interviewed by Reuters
suggested a slightly smaller increase
(up to 58.2). According to the PMI study, in
April, both servicing and
manufacturing companies noticeably
increased their staff. Index
PMI for the manufacturing sector, by
which accounts for about 10% of the British
economy, rose to the highest
since 1994 level – values ​​of 60.7 (in March
this figure was at 58.9).

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Waiting
imminent revival of the British economy
and the inflow of international capital,
global investment company
United Kingdom Aberdeen Standard
Investments entered a long position on the pair
GBP / USD. It is noteworthy that before that she
was extremely neutral towards this pair.
Aberdeen experts dwell in deep
the belief that the market is still underestimating
the level of vaccination against coronavirus in
UK and clear recovery
its economy.

Manager
Fund James These are confident that the GBP / USD pair
after three months it can grow to
marks 1.42. And it will happen before
yield on US government bonds again
will move to growth and pull quotes
pair back down – to the level of 1.36.

Also read  Bank of America: speculators sold a record volume of shares

IN
then
same time
Chief Investment Officer of BlueBay
Asset Management LLP Mark Dowding, on the other hand,
looks at the pound less positively and expects
its further
weakening.
He sees the reason for this as a likely victory.
Scottish nationalist parties.
We remind you Scottish elections
scheduled for May 6th.

Topics
at least today, the fifth
the largest economy in the world that collapsed
in 2020 by a deafening 10%, has everything
chances to recover fairly quickly
lost. Last Thursday Confederation
British industry reported
that the hopes of British manufacturers
on economic recovery have reached
maximum over the past 48 years. Probably,
positive figures from the British
economy is the implementation of the deferred
demand, which was intensively formed
for a long period of quarantine.

GBP / USD chart:

EUR / GBP chart:

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