Please note that this website is not intended for EU residents. If you are located in the EU and wish to open an account with an EU investment firm and protected by EU laws, you will be redirected to Huaprime EU Ltd, a company licensed and regulated by the Cyprus Securities and Exchange Commission with licence no. 426/23.
Tags: BoE, GBPUSD, Rebound, Retail Sales
The UK economy received another boost as retail sales rebounded in July, rising by 0.5% month-over-month, after a revised 0.9% decline in June. This positive retails sales data has contributed to a rise in the pound’s value. GBP/USD rose 0.72% last Friday, closed at 1.2940.
(GBP/USD Daily Price Chart)
The recovery in retail sales can be attributed to summer discounts and purchases linked to events such as Euro 2024 and the Paris Olympics, particularly in categories like apparel. Additionally, with inflation now under control and hovering near 2%, consumers are more willing to spend.
While the economy demonstrates resilience in the second quarter, this may not significantly influence the Bank of England’s interest rate trajectory. The recent growth uptick may be temporary, and BoE policymakers have emphasized their focus on inflation, especially service inflation, which remains well above the BoE’s 2% target. Markets are anticipating further rate cuts by the end of the year, with a reduction likely at the November meeting.
Disclaimer
Comments, news, research, analysis, price, and all information contained in the article only serve as general information for readers and do not suggest any advice. Ultima Markets has taken reasonable measures to provide up-to-date information, but cannot guarantee accuracy, and may modify without notice. Ultima Markets will not be responsible for any loss incurred due to the application of the information provided.
Ultima Markets, dünya çapında yaygın emtialar için en rekabetçi maliyet ve değişim ortamını sağlar.
Ticarete BaşlaHareket halindeyken piyasayı izleme imkanı
Piyasalar arz ve talepteki değişimlere duyarlıdır
Sadece fiyat spekülasyonu ile ilgilenen yatırımcılar için çekici
Derin ve çeşitli likidite ile gizli ücretler yok
Dealing desk yok ve yeniden fiyatlandırma yok
Equinix NY4 sunucusu üzerinden hızlı yürütme