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GBP/USD Daily Forecast – 07 June

Tuesday, Jun 06 2017
GBP/USD Daily Forecast – 07 June

From the UK, yesterday, BRC Retail Sales Monitor figures were released. Retail sales fell back again last month as consumers started counting the pennies and cut their discretionary spending. Like-for-like retail sales were down by 0.4 per cent in May, according to figures from the British Retail Consortium (BRC), falling back from the sales boost the sector received over the Easter holiday. Non-food retailers dragged on sales as consumers cut their spending on discretionary items, with like-for-like sales in this sub-sector falling by 0.3 per cent over the three months to May.

In the US session JOLT Job Openings data was published. On the last business day of April, the job openings level increased to a series high of 6.0 million (+259,000). The job openings rate was 4.0 percent. The number of job openings edged up for total  private (+220,000) and increased for government (+39,000). Job openings increased in a number of  industries with the largest increase occurring in accommodation and food services (+118,000). Job  openings decreased in durable goods manufacturing (-30,000). The number of job openings increased in the Midwest and Northeast regions.

 

There will be no major data releases both from the UK and USA tomorrow, so we can expect a bit steadier session.

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