|06:00||Germany||Producer Price Index (MoM)||May||0.8%||0.7%||1.5%|
|06:00||Germany||Producer Price Index (YoY)||May||5.2%||6.4%||7.2%|
|06:00||United Kingdom||Retail Sales (MoM)||May||9.2%||1.6%||-1.4%|
|06:00||United Kingdom||Retail Sales (YoY)||May||42.4%||29%||24.6%|
|08:00||Eurozone||Current account, unadjusted, bln||April||31||31.4|
GBP weakened against most of its major counterparts in the European session on Friday after the data revealed an unexpected drop in the UK’s retail sales for May.
The Office for National Statistics (ONS) reported that the UK's retail sales declined 1.4% m/m in May, following a 9.2% m/m surge in April, when retail restrictions were eased. This was the first monthly drop in retail sales since January. Economists had forecast a 1.6% m/m gain. Lower retail sales at food stores (-5.7% m/m) were the largest contribution to the monthly decline in May, as the easing of hospitality restrictions had had an impact on sales as people returned to eating and drinking at locations such as restaurants and bars. On a yearly basis, the retail sales rose by 24.6% last month, following a 42.4% jump in April and also missing economists' expectations of a 29.0% climb.
Market participants also received the Bank of England's (BoE) quarterly survey of public attitudes to inflation, which showed that median expectations of the rate of inflation over the coming year were 2.4% in May, down from 2.7% in February 2021. Expectations of inflation in the longer term also fell - to 2.7% in May from 2.9% in February 2021.
Investors’ focus is now shifting towards BoE’s policy meeting, which is due on June 24. Markets do not expect any changes to the Bank’s policy settings.
Risk Warning: Trading Forex and CFDs on margin carries a high level of risk and may not be suitable for all investors. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Prior to trading, you should take into consideration your level of experience and financial situation. TeleTrade strives to provide you with all the necessary information and protective measures, but, if the risks seem still unclear to you, please seek independent advice.
© 2011-2022 Teletrade-DJ International Consulting Ltd
Teletrade-DJ International Consulting Ltd is registered as a Cyprus Investment Firm (CIF) under registration number HE272810 and is licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 158/11.
The company operates in accordance with the Markets in Financial Instruments Directive (MiFID).
The content on this website is for information purposes only. All the services and information provided have been obtained from sources deemed to be reliable. Teletrade-DJ International Consulting Ltd ("TeleTrade") and/or any third-party information providers provide the services and information without warranty of any kind. By using this information and services you agree that under no circumstances shall TeleTrade have any liability to any person or entity for any loss or damage in whole or part caused by reliance on such information and services.
TeleTrade cooperates exclusively with regulated financial institutions for the safekeeping of clients' funds. Please see the entire list of banks and payment service providers entrusted with the handling of clients' funds.
Teletrade-DJ International Consulting Ltd currently provides its services on a cross-border basis, within EEA states (except Belgium) under the MiFID passporting regime, and in selected 3rd countries. TeleTrade does not provide its services to residents or nationals of the USA.