FOREX TradingCharts.com

Forex News: Pound Rises As U.K. Retail Sales Growth Accelerates

Pound Rises As U.K. Retail Sales Growth Accelerates

09/20/2017 - 05:55:00 (RTTNews)

(RTTNews) - The British pound strengthened against other major currencies in the early European session on Wednesday, after data showed that U.K. retail sales increased at a faster pace in August. Data from the Office for National Statistics showed that U.K. retail sales volume including auto fuel advanced 1 percent in August from July, the biggest growth in four months and exceeded the expected rate of 0.2 percent and July's increase of 0.6 percent.

Year-on-year, retail sales volume growth improved to 2.4 percent from 1.4 percent. Economists had forecast a 1.2 percent increase. Sales have increased for the 52nd consecutive month.

Investors await the U.S. Federal Reserve's monetary policy decision due later in the day, with many expecting no change in interest rates.

That said, the accompanying statement may offer the details of how the central bank plans to start shrinking its $4.5 trillion balance sheet.

In the Asian trading today, the pound held steady against its major rivals.

In the European trading, the pound rose to 2-day highs of 1.3608 against the U.S. dollar, 1.3057 against the Swiss franc and 0.8826 against the euro, from early lows of 1.3492, 1.2974 and 0.8888, respectively. If the pound extends its uptrend, it is likely to find resistance around 1.37 against the greenback, 1.31 against the franc and 0.86 against the euro.

Against the yen, the pound edged up to 151.52 from an early low of 150.49. The pound may test resistance near the 152.00 region.

Looking ahead, U.S. existing home sales data for August and crude oil inventories data are slated for release in the New York session.

At 2:00 pm ET, the Federal Reserve will announce its decision on monetary policy. The Fed is expected to hold rates at 1.25 percent.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2017 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Dollar Trading Mixed As The Weekend Approaches (09 min(s), 41 sec(s) ago)
(RTTNews) - The dollar is turning in a mixed performance Friday afternoon, rising against the Euro ...Full Story»

Dollar Little Changed After U.S. Existing Home Sales (15 min(s), 41 sec(s) ago)
(RTTNews) - Following the release of U.S. existing home sales for September at 10.00 am ET Friday, ...Full Story»

Dollar Mixed Ahead Of U.S. Existing Home Sales (06 min(s), 42 sec(s) ago)
(RTTNews) - The National Association of Realtors' Existing Home Sales for September will be is ...Full Story»

Canadian Dollar Falls As Retail Sales Drop Unexpectedly, Inflation Slows (08 min(s), 19 sec(s) ago)
(RTTNews) - The Canadian dollar dropped against its key counterparts in the European session on Fr ...Full Story»

Loonie Falls After Canada CPI, Retail Sales (01 hr(s), 14 min(s), 19 sec(s) ago)
(RTTNews) - Following the release of Canada inflation for September and retail sales for August at ...Full Story»

Loonie Mixed Ahead Of Canada CPI, Retail Sales (01 hr(s), 23 min(s), 19 sec(s) ago)
(RTTNews) - Statistics Canada will release Canada inflation for September and retail sales for Aug ...Full Story»

Pound Advances Amid Risk Appetite, May's Remarks (02 hr(s), 05 min(s), 19 sec(s) ago)
(RTTNews) - The pound strengthened against its major counterparts in the European session on Frida ...Full Story»

Pound Strengthens Against Majors (03 hr(s), 26 min(s), 19 sec(s) ago)
(RTTNews) - The pound climbed against its major opponents in European deals on Friday. The po ...Full Story»

Search

FOREX NEWS

Dollar Trading Mixed As The Weekend Approaches

10/20/2017 - 14:58 PM (RTTNews)
(RTTNews) - The dollar is turning in a mixed performance Friday afternoon, rising against the Euro ...Full Story>>

Dollar Little Changed After U.S. Existing Home Sales

10/20/2017 - 10:05 AM (RTTNews)
(RTTNews) - Following the release of U.S. existing home sales for September at 10.00 am ET Friday, ...Full Story>>

Dollar Mixed Ahead Of U.S. Existing Home Sales

10/20/2017 - 09:56 AM (RTTNews)
(RTTNews) - The National Association of Realtors' Existing Home Sales for September will be is ...Full Story>>

Canadian Dollar Falls As Retail Sales Drop Unexpectedly, Inflation Slows

10/20/2017 - 09:40 AM (RTTNews)
(RTTNews) - The Canadian dollar dropped against its key counterparts in the European session on Fr ...Full Story>>

Loonie Falls After Canada CPI, Retail Sales

10/20/2017 - 08:33 AM (RTTNews)
(RTTNews) - Following the release of Canada inflation for September and retail sales for August at ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.