UK retail sales out today.

GBP (British Pound): The British pound (GBP) displayed strength in today’s trading session, making gains against both the euro (EUR) and the US dollar (USD). The currency benefited from positive economic data releases and improved market sentiment. Traders closely monitored key events and data releases for further insights into the pound’s trajectory.

Key Data Releases for GBP:

• UK Retail Sales: The Confederation of British Industry released the retail sales data for June today. The figures indicated a strong increase in retail sales, surpassing market expectations. This positive outcome may further support the pound, highlighting a healthy consumer spending environment.

EUR (Euro): The euro (EUR) exhibited mixed performance against major counterparts today. While it made gains against the US dollar (USD), it faced some pressure against the British pound (GBP). Market sentiment around the euro was influenced by a variety of factors, including economic indicators and global market dynamics.

Key Data Releases for EUR:

• Eurozone Manufacturing PMI: IHS Markit released the manufacturing Purchasing Managers’ Index (PMI) for June today. The data showed a solid expansion in the manufacturing sector, signaling positive growth prospects. This positive reading may have provided some support to the euro.

USD (US Dollar): The US dollar (USD) encountered mixed performance in today’s trading session. While it faced selling pressure against the euro (EUR), it showed strength against the British pound (GBP). The currency’s performance was influenced by a combination of economic indicators, geopolitical developments, and market sentiment.

Key Data Releases for USD:

• US Initial Jobless Claims: The Department of Labor released the weekly jobless claims data today. The figures showed a slight decrease in initial jobless claims, indicating a continued improvement in the labor market. This positive outcome may provide support to the US dollar.

Market participants closely monitored the aforementioned key data releases, along with geopolitical developments and global market sentiment, to assess the performance of the GBP, EUR, and USD.

Economic Calendar