Don’t waste your time – keep track of how NFP affects the US dollar!
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Personal areaUK retail sales will be out at 9:00 MT on March 26. This data is significant for traders as it is the main gauge of consumer spending, which accounts for the majority of overall economic activity. Last time, retail sales in the United Kingdom were much worse than expected as they plunged by 8.2%, which was the largest drop since a record 18% fall in April. Obviously, this poor data was caused by the coronavirus restrictions. However, things are getting better. Due to UK’s extraordinary vaccination pace, the economy has started recovering faster than expected. Major banks have already upgraded their projections for the UK’s economic growth. Therefore, we might expect encouraging numbers this time.
What you need is just open the economic calendar at 9:00 MT on Friday and compare the actual numbers with the expected.
Instruments to trade: GBP/USD, EUR/GBP, GBP/CHF, GBP/CAD
