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GBP/USD Daily Forecast – 09 August

Tuesday, Aug 08 2017
GBP/USD Daily Forecast – 09 August

Yesterday, from the UK BRC retail sales figures were released. British retail sales grew more slowly in July, data published on Tuesday showed, as shoppers cut back on non-essential spending and budgeted for the higher price of food following the Brexit vote. UK retail sales increased by an annual 0.9 percent on a like-for-like basis, which strips out changes in store size, the British Retail Consortium said. That was down from growth of 1.2 percent in June - the highest non-Easter reading of the year thanks to good weather. Total sales in July slowed to show a 1.4 percent rise, in line with the 12-month average.

In the US session JOLTS Job Openings data were published. Monthly jobs openings — a gauge of the U.S. economy that's closely watched by Fed Chair Janet Yellen — increased in June from May, the Bureau of Labor Statistics announced Tuesday. The number of openings was at 6.2 million on the last business day of the month, a record high, the report from the Labor Department said. This represents an increase from 5.7 million on the last business day of May.

 

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

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