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Positive macroeconomic statistics from the UK

Positive macroeconomic statistics from the UK | 11 May 2021

11 May 2021, GBP/USD

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The British Retail Consortium said total sales were 7.3% higher in April than in the same month two years ago. The BRC said comparisons with April 2019 gave a better sense of trends in the sector than its usual year-on-year sales measure which showed a jump of more than 50%, reflecting how the retail sector was largely shut in April 2020. BRC chief executive Helen Dickinson said fashion retailers saw sales rise, particularly in outerwear and knitwear, as the public braved the cold spring weather to meet outdoors as pubs and restaurants partially reopened from April 12. Furniture sales, which have risen due to increased home-working and booming residential property sales, were also up.

Investment idea: buy 1.4100 and take profit 1.4160.

David Johnson
Analyst of «FreshForex» company
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