Fri, April 21, 2017
The Pound declined versus the Dollar, paring its biggest weekly rise this year, after data showed retail sales recorded its biggest fall since 2010 in the first quarter.
Sterling fell as the data showed sales fell 1.8% in March alone, far exceeding the 0.5% decline expected. The losses tried to put a stop to a second weekly gain against the Dollar, after the U.K. currency had been boosted by PM Theresa May’s surprise announcement of a snap election on June 8. May’s move was perceived by markets to reduce the prospects of a chaotic exit from the EU.
GBP/USD fell 0.2% to 1.2786, on course for a weekly gain of 2.1%, the biggest since November. GBP/USD reached a more than six-month high on Tuesday.
Data to look out for today.
09:30: GBP Retail Sales
13:45: USD Manufacturing/Services/Composite PMI
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| Day | Time | Currency | Event |
|---|---|---|---|
| FRI | 07:00 | EUR | EUR Markit France Composite PMI | FRI | 07:00 | EUR | EUR Markit France Manufacturing PMI | FRI | 07:00 | EUR | EUR Markit France Services PMI | FRI | 07:30 | EUR | EUR Markit Germany Services PMI | FRI | 07:30 | EUR | EUR Markit/BME Germany Manufacturing PMI | FRI | 07:30 | EUR | EUR Markit/BME Germany Composite PMI | FRI | 08:00 | EUR | EUR Euro-Zone Current Account s.a. (euros) | FRI | 08:00 | EUR | EUR Markit Eurozone Manufacturing PMI | FRI | 08:00 | EUR | EUR Markit Eurozone Services PMI | FRI | 08:00 | EUR | EUR Markit Eurozone Composite PMI | FRI | 08:00 | EUR | EUR Euro-Zone Current Account n.s.a. (euros) | FRI | 08:30 | GBP | GBP Retail Sales Inc Auto Fuel (MoM) | FRI | 08:30 | GBP | GBP Retail Sales (YoY) | FRI | 08:30 | GBP | GBP Retail Sales Inc Auto Fuel (YoY) | FRI | 08:30 | GBP | GBP Retail Sales (MoM) | FRI | 11:45 | GBP | GBP BOE's Michael Saunders Speaks at Event in London | FRI | 12:30 | CAD | CAD CPI Core- Median (YoY)% | FRI | 13:30 | USD | USD Fed's Kashkari Participates in Q&A in St. Paul MN | FRI | 13:45 | USD | USD Markit US Services PMI | FRI | 13:45 | USD | USD Markit US Composite PMI | FRI | 13:45 | USD | USD Markit US Manufacturing PMI | FRI | 14:00 | USD | USD Existing Home Sales (MoM) | FRI | 14:00 | USD | USD Existing Home Sales | FRI | 17:00 | USD | USD Baker Hughes U.S. Rig Count |
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*These are indicative rates only, based on interbank prices at the time of writing. For exact rates please contact our dealing team
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