Retail Sales could play a bigger role in May than in previous months.
London (PRWEB UK) 23 May 2013
Multi-award winning forex broker Vantage FX UK has its finger on the pulse of FX and provides insights in the shape of regular market commentary and technical forex analysis videos.
On 23rd May, UK GDP and Retail Sales figures will be announced. If the announcement expected arrives, this will underline GBP strength, but if a negative figure is announced, then this could drive down GBP several hundred pips.
Head of Market Analysis Jay Mawji commented:
“UK Retail Sales could play a bigger role in May than in previous months. The Bank of England have recently raised the forecast for GDP and a positive Retail Sales figure could support such a view. Further, incoming governor Mark Carney will be assessing the state of the UK economy as he consults the MPC on his plan when he takes over, the Retail Sales will provide a key insight into how the consumer is currently affected by the state of the economy and what action the Bank of England may need to take.”
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