The Pound Sterling (GBP) retreated after the UK Office for National Statistics (ONS) reported a weak Retail Sales data for September. UK households ha
Pound Sterling dropped after data showing that UK Retail Sales declined by almost 1%in September. The decrease in Retail Sales suggests weakening households’ spending, which is the main driver of the UK economy. The Bank of England is widely expected to leave interest rates unchanged. ve postponed their demand for core goods as higher borrowing costs andstubborn inflation have squeezed their spending power.
Meanwhile, the market mood remains downbeat amid Middle East tensions. The support from Western nations to Israel has escalated expectations of Iran’s intervention in the Israel-Palestine conflict. After US President Joe Biden supported Israel against the Hamas group, UK Prime Minister Rishi Sunak told Israel: “We want you to win”. Technical Analysis: Pound Sterling declines toward 1.2100 Pound Sterling drops sharply after weak Retail Sales data. The GBP/USD pair fallstoward a two-week low at 1.
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Pound Sterling looks for rebound as sticky inflation raises BoE’s tightening hopesThe Pound Sterling (GBP) strives for a cushion, remaining vulnerable due to persistent inflation fears. The GBP/USD pair struggles for traction as the
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Pound Sterling Price News and Forecast: GBP/USD break of pivotal supports risks further weaknessGBP/USD turned south in the early European session and dropped below 1.2100 after spending the Asian trading hours in a tight range near 1.2150. The r
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Pound Sterling Price News and Forecast: GBP/USD sees 1.2190 on post-Fed reactionGBP/USD Price Analysis: Extends its downside above the 1.2100 mark amid the risk-off mood GBP/USD remains under selling pressure below the mid-1.2100
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Pound Sterling Price News and Forecast: GBP/USD extends losses around 1.2170, awaits UK CPIFollowing a quiet Asian session, GBP/USD edged higher to the 1.2200 area in the European morning on Wednesday. The technical outlook is yet to point t
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Rising yields keep the heat on stocks, UK Retail Sales in focusIt was another poor day for European markets yesterday with the FTSE100 getting hit the hardest, while the DAX also slipped back before finding an ele
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UK Retail Sales drop 0.9% MoM in September vs. -0.1% expectedThe UK Retail Sales dropped 0.9% over the month in September vs. -0.1% expected and 0.4% recorded in August, according to the official data published
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