Forex Trading: currency trading, market, stocks

Retail sales in Britain for May, reported an unexpected increase of 3,5 percent, reported by the Office for National Statistics in London. This is the highest one month’s increase in sales in 1986 onwards. Growth is a surprise, since the consensus forecast of experts fall of 0.1 percent. In April sales decreased by 0.3 percent.

On an annual basis, growth in retail sales was 8.1 percent.

A positive report today suggesting that the country’s economy may have a long way from recession and fears of some central bankers were unfounded. Despite high energy prices and moving only ‘real estate market in the country domestic consumption is still high.
After the news announced at lunch the pound expected appreciated, as when the cable is traded at 1.9690. In earlier cross reached 1.9717, which was the highest value of 10 June onwards.

English currency against the euro also implemented sharp growth. At present one euros are exchanged for 0.7867 pounds, taking minutes before the report on retail sales exchange rate was 0.7945 pounds to euros.

The Pound was supported by positive news and public sector. In May net loans in the sector were 10.95 billion pounds, which is around 1.6 billion pounds more than expert expectations. The costs in public sector also increased more than expected. In May, they were 10,987 billion pounds, as the forecast was for only 6.5 billion