The Sterling traded lower against the USD on Wednesday. The U.K. will release Retail Sales, Preliminary Mortgage Approvals, and Public Sector Net Borrowing numbers today. The Retail Sales and Mortgage Approval figures will be watched closely. The U.K. has been consistently turning in mixed data the past few months and today’s numbers will be of importance for those participating in the markets. The austerity measures undertaken by the government upon coming into office were enough to bolster the GBP and now the trick is to actually prove they can work. Retail Sales are expected to turn in a 0.4% gain today, but last month’s report produced a gain of 0.7%. There will be no data from the U.K. tomorrow, so today’s data could prove to have an impact.
Written by bforex.com
