TRADING
TIPS :
GBP/USD was up 0.83% to 1.5664 from
around 1.5600 before the data. The pound jumped to session highs
against the dollar on Thursday after data showing that U.K. retail
sales rose at a faster than expected rate in April, boosting optimism
over the economic outlook. The Office for National Statistics said
retail sales rose 1.2% last month, boosted by higher sales of
clothing and footwear, far more than forecasts for a 0.4% increase.
Retail sales were 4.7% higher on a year-over-year basis, ahead of
expectations for a 3.8% increase. Core retail sales, which exclude
automobile sales, were up 1.2% last month, compared to forecasts for
a 0.3% rise, after gaining 0.2% in March. The ONS also said average
store prices were lower for the tenth consecutive month, down 3.2%
from a year earlier.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.5720 TARGET 1.5740 1.5770 SL 1.5690
SELL
GBPUSD BELOW 1.5630 TARGET 1.5610 1.5580 SL 1.5660
RECOMMENDATION:
BUY
EURUSD ABOVE 1.1150 TARGET 1.1170 1.1200 SL 1.1120
SELL
EURUSD BELOW 1.1100 TARGET 1.1080 1.1050 SL 1.1130
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