Maloobchdoní UK sales disappoint
Coldest March since 1962 hurt retail sales in the UK. Sales in mom measure lost 0.7 percent. Consumer spending is under pressure. Inflation, which overcomes wage growth, consumers also boosted. Today's result is not as such a surprise, as most economists predicted this fall, thanks to a very strong February. Revenues net of food dropped by as much as 4 percent, which is the third biggest drop since January 2010. A survey of retailers clearly showed that retail interferes mainly bad weather, for which the British remain at home.
The International Monetary Fund (IMF) yesterday recommended the UK respite from the austerity measures and instead allow the reins of monetary policy.
Currency Pair GBP / USDis moving in a bearish intraday trend. On the 4 hour chart we can see the regular formation of lower peaks accompanied by lower days. Currently price has reached its bottom and lower after poor results in retail sales can go even lower. Any correction could find its ceiling at the Fibonacci levels of 38.2.
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