Market Update: UK’s Realized Sales Warm Up, but GBP Doesn’t Care

The Confederation of British Industry releases the UK realized sales figures. For all of you who don’t know much about the event, it’s a leading indicator of consumer spending because retailer and wholesaler sales are directly influenced by consumer buying levels. Fellas, it’s a survey of about 125 retail and wholesale companies which asks respondents to rate the relative level of current sales volume.

Actual Release: Economists were expecting to soar to 10 vs. 5 previously. But the actual figure came out as 19 which is significantly higher than the forecast. However, the figure hasn’t extended much support to the GBP/USD and it’s still falling dramatically on a stronger dollar.

What’s Next?

For now, the market awaits the US CB Consumer Confidence figure which is due to be released at 16:00 (GMT). Check out the FX Leaders economic calendar for the live coverage of the event!

ABOUT THE AUTHOR See More

Arslan Butt

Index & Commodity Analyst

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

Related Articles

Comments

0 0 votes

Article Rating

Subscribe

Login

Notify of

new follow-up commentsnew replies to my comments

Please login to comment

0 Comments

Oldest

Newest Most Voted

Inline Feedbacks

View all comments