- The GBP/USD again reached about 1,3468, the highest level since February 2022, marked on Wednesday.
- Retail sales of the United Kingdom on Friday can decrease for the third consecutive month in April.
- 30 -year -old American bonus yield retreated after reaching 5.15% on Thursday, the highest level in 19 months.
The GBP/USD records profits of approximately a quarter percentage point in Friday’s Asian hours, quoting around 1,3450 at the time of writing. The torque progresses as the pound sterling (GBP) attracts buyers after the GFK consumer confidence index was published, better than expected, for the United Kingdom (UK). Operators expect retail sales from the United Kingdom, scheduled to be published later in the day, anticipating a monthly decrease per third consecutive period in April.
On Friday, the United Kingdom consumer confidence index rose 3 points to -20 in May, better than the expected reading of -22 and reversing the reading of -April. However, the feeling of the consumer remains cautious, since the index remains well below its long -term average.
However, the sterling pound fell slightly since the data showed on Thursday that the index of purchasing managers (PMI) of manufacturing of the United Kingdom seasonally adjusted unexpectedly fell to 45.1 in May from 45.4 in April, while the market forecast was a reading of 46.0 in the reported period. Meanwhile, the business activity index of the preliminary United Kingdom rose to 50.2 in May compared to the previous reading of 49.0 and the expected figure of 50.0.
The GBP/USD advanced as the dollar retreated, driven by a decrease in the yields of US Treasury bond Trump goes to the Senate.
The US House of Representatives approved Trump’s budget for a vote on Thursday, which would offer tax cuts on tips and loans for cars manufactured in the USA. The proposal is expected to increase the deficit at 3.8 billion dollars, according to the Congress Budget Office (CBO).
Economic indicator
Retail sales (MOM)
Retail sales publish them National Statistics and consist of a survey on goods sold by merchants that is based on a sample of stores of different types and sizes. It is considered an indicator of consumer spending. It shows the performance of the retail sector in the short and medium term. A result superior to the market consensus is bullish for the pound, while a lower result is bassist.
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Next publication:
old May 23, 2025 06:00
Frequency:
Monthly
Dear:
0.2%
Previous:
0.4%
Fountain:
Office for National Statistics
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
