Bad news for the Pound. Overview for 28.03.2018

On Wednesday afternoon, GBPUSD is back to falling, although it seemed to have reached stability in the morning. The main reason of the current decline is statistics.

The British Pound is trading downwards against the USD. The current quote for the instrument is 1.4152.

Yesterday, the Pound significantly retreated against the American currency, because the latter recovered, but this morning the instrument started consolidating and was looking fine. However, it didn’t last long, only until the UK published some statistics.

It became known that the CBI Realized Sales moved below zero in March and was -8 points. Although the indicator was really expected to fall a little bit up to 7 points, no one thought it would plummet so much. So, the actual number was an unpleasant surprise for investors: the indicator fell for the first time in five months and the reason was very simple – the weather.

In March, there were heavy snow showers and some stormy winds, which prevented consumers from going shopping and spending money, thus influencing the retail sales in a very negative way.

Expectations relating to the indicator for April are very cautious right now. It is believed to recover, but not too much.

RoboForex Analytical Department