Pound Falls On Disappointing U.K. Retail Sales, PMI Data

RTTNews | 663 days ago
Pound Falls On Disappointing U.K. Retail Sales, PMI Data

(RTTNews) - The pound declined against its major counterparts in the European session on Friday, as the nation's retail sales grew less than expected in August and business activity shrank to a 32-month low in September.

Data from the Office for National Statistics showed that U.K. retail sales rose 0.4 percent in August, weaker than expectations of a 0.5 percent rise.

On a yearly basis, retail sales declined 1.4 percent versus forecast of 1.2 percent fall.

Sales excluding auto fuel dropped to 1.4 percent after a 3.3 percent fall last month. Economists had forecast a decline of 1.3 percent.

Data from S&P Global and the Chartered Institute of Procurement & Supply showed that U.K. composite PMI declined to 46.8 in September from 48.6 in August and below expectations of 48.7.

U.K. services PMI fell to 47.2 from 49.5 last month. The score was also below economists' forecast of 49.2.

The pound weakened to near a 6-month low of 1.2233 against the greenback and more than a 2-month low of 0.8695 against the euro, off its early highs of 1.2295 and 0.8657, respectively. The next possible support for the pound is seen around 1.20 against the greenback and 0.88 against the euro.

The pound eased to 1.1082 against the franc and 181.31 against the yen, from its early highs of 1.1122 and 182.30, respectively. The pound is seen finding support around 1.09 against the franc and 176.00 against the yen.

Looking ahead, Canada retail sales data for July and manufacturing sales data for August and U.S. flash PMI reports for September are set to be published in the New York session.

read more
Pound Rises On Strong UK CPI Data

Pound Rises On Strong UK CPI Data

The British pound strengthened against other major currencies in the early European session on Wednesday, after U.K. consumer price inflation accelerated unexpectedly in June to the highest since January 2024 largely due to higher transport and food costs but the Bank of England is expected to loosen its policy further, given mounting concerns over economic conditions.
RTTNews | 59 minutes ago
Pound Rises Against Majors

Pound Rises Against Majors

The British pound strengthened against other major currencies in the early European session on Wednesday.
RTTNews | 2h 50min ago
Yen Falls As Traders Speculate BoJ Rate Hike Pause

Yen Falls As Traders Speculate BoJ Rate Hike Pause

The Japanese yen weakened against other major currencies in the Asian session on Wednesday, as traders speculate that the Bank of Japan (BoJ) will not raise interest rates this year due to worries about the economic effects of rising U.S. tariffs.
RTTNews | 4h 41min ago
Yen Falls Against Majors

Yen Falls Against Majors

The Japanese yen weakened against other major currencies in the Asian session on Wednesday.
RTTNews | 5h 24min ago
U.S. Dollar Firms After Strong Inflation Data

U.S. Dollar Firms After Strong Inflation Data

The U.S. dollar advanced against its major counterparts in the New York session on Tuesday, following the release of hotter-than-expected inflation data for June.
RTTNews | 15h 47min ago
Yen Slides Amid Risk-on Mood

Yen Slides Amid Risk-on Mood

The Japanese yen weakened against other major currencies in the European session on Tuesday, as European stocks traded higher despite lingering concerns about U.S. President Donald Trump's tariff plans and aggressive negotiation tactics.
RTTNews | 1 day ago
Yen Slides Against Majors

Yen Slides Against Majors

The Japanese yen weakened against other major currencies in the European session on Tuesday.
RTTNews | 1 day ago
Pound Falls As Traders Speculate BoE Rate Cut Decision

Pound Falls As Traders Speculate BoE Rate Cut Decision

The British pound weakened against other major currencies in the European session on Monday, as traders speculate that the Bank of England (BoE) is likely to reduce its interest rate in the next month's monetary policy decision.
RTTNews | 2 days ago