“Uk retail sales surprise in april, Fueling Inflation Concerns and Complicating Boe Rate Cut Bets.”, – WRITE: www.fxempire.com
“I do worry about the fact that inflation has stubbornly High, and Pay Dynamics have stayed stubbornly strong.”
While Inflation and Spending Pressure Challenge Boe Doves, PMI Data Reintroduced UNCERTAINTY OVER The RATE PATH. May’s Flash Pmi Survey Signaled A Sharp Slowdown AHEAD, PETENTILY REVINGING Bets on a Boe Rate Cut. Simon Pittaway, Senior Economist at Resolution Foundation, Remarked:
“Overall, it’s Welcome that Rate of Growth in Activity Has Stabilced After April’s Sharp Fall. But with The Headline Index Suggesting Shrinking Sharply from Q1 to Q2. ”
GBP/USD Reacts to The Retail Sales Report Ahead of the UK Retail Sales Data Release, The GBP/USD BRIEFLY FELL TO A LOW OF $ 1.34057 Before Rebounding to a High of $ 1.34588.
Following the UK Retail Sales Data Release, The GBP/USD Rose to A High of $ 1.34606 Before EASING BACK. On Friday, May 23, The GBP/USD WAS UP 0.31% to $ 1.34594, Reflection the Market’s Sensitivity to the Stats and Their Implications for the Boe.