Don’t waste your time – keep track of how NFP affects the US dollar!
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Personal areaGreat Britain will release retail sales for May on June 18, at 09:00 MT time. One cannot underestimate the importance of this indicator. The change in retail sales shows how active consumers are, how willing they are to spend in various shops. The more they spend, the better for the UK economy and, hence, for the British pound.
In April, when lockdown restrictions were lifted for non-essential shops, British retailers managed to return to normal sales volumes. If this trend has continued in May, it will be a positive sign for the nation’s GDP and currency.
The indicator will have an impact on pairs containing the GBP.
Instruments to trade: GBP/USD, EUR/GBP, GBP/JPY.
