If you would like to ask our webinar guest speakers (Phillip Williams, Chairman & CEO Consolidated Uranium, Jamie Flegg, CDO Sigma Lithium Corp, Chris Doornbos, Chair & CEO, E3 Lithium and David Talbot, Head of Equity Research at Red Cloud Securities) a question, please submit here.

Less Ads, More Data, More Tools Register for FREE

Friday is perfect time to trade GBP

Friday is perfect time to trade GBP

What will happen?

UK retail sales will be out at 9:00 MT on March 26. This data is significant for traders as it is the main gauge of consumer spending, which accounts for the majority of overall economic activity. Last time, retail sales in the United Kingdom were much worse than expected as they plunged by 8.2%, which was the largest drop since a record 18% fall in April. Obviously, this poor data was caused by the coronavirus restrictions. However, things are getting better. Due to UK’s extraordinary vaccination pace, the economy has started recovering faster than expected. Major banks have already upgraded their projections for the UK’s economic growth. Therefore, we might expect encouraging numbers this time.

 

How to trade on UK retail sales?

What you need is just open the economic calendar at 9:00 MT on Friday and compare the actual numbers with the expected.

  • If the retail sales are greater than the forecast, the GBP will rise,
  • Otherwise – fall. 

Instruments to trade: GBP/USD, EUR/GBP, GBP/CHF, GBP/CAD

push_gbp.jpg

FBS

Boost your?FX?knowledge to trade with?FBS, reliable?broker?with 11 years of expertise. Start your way on?Forex. Trade with?FBS, CySEC/ASIC licensed?broker. Fast execution. Easy deposit & withdrawal. 40+ international awards. 24/7 Support. Analytics and news.?

Find out more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.