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Positive macroeconomic statistics from the UK

Positive macroeconomic statistics from the UK | 27 October 2021

27 October 2021, GBP/USD

Positive macroeconomic statistics from the UK

GBPUSD trading plan:

British retailers reported a stronger-than-expected sales rise in October after a September slowdown. The CBI's monthly distributive trade survey showed the headline sales balance for retailers picked up to +30 in October from +11 in September. "Disruption to supply chains, combined with staff shortages and uncertain public health conditions mean retailers are finding it difficult to plan for the winter ahead," CBI economist Ben Jones said. Finance minister Rishi Sunak should help the sector by reforming the business rates tax system when he announces a half-yearly budget plan.

Investment idea: buy 1.3740 and take profit 1.3811.

David Johnson
Analyst of «FreshForex» company
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