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CBI Realized Sales survey showed balance of +29%

Thursday, Jun 25 2015
According to the latest CBI survey 44% of retail sector respondents said volumes were up on a year ago, and 15% said they were down, giving a balance of +29%. Analysts were predicting balance of +32%. This shows a slowdown in sales growth on the previous month (+51%). Barry Williams, CBI Distributive Trades Survey Chairman and Asda’s Chief Customer Officer, said: “Summer is a time of optimism for retailers and this year is no different." 
 
"Even though growth slowed slightly this month, retailers are not letting that subdue their hopes for the season. Low inflation – expected to stay below 1% throughout this year – has given customers more discretionary income. The power of the pound in their pocket is going further and shoppers are spending more on treats, like flowers and jewellery, as well as on activities with their families.”
 
Data brought incline to Sterling which is currently being traded above 1.57 handle. Pair is likely to find support around 1.5650 level and resistance above 1.5770 area. Later today, in the US session, Unemployment Claims figures are scheduled for a release.
More in this category: « German Consumer Climate declined slightly Unemployment Claims remain below 300,000 level »

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