GBP

UK retail sales beat expectations on Friday showing growth
of 0.1% instead of a fall of 1.4%, underscoring the fact that the UK consumers
is still spending.

The news continued to support the pound ahead of key 1^st
quarter economic growth data due for release later this week, with growth
expected to increase to 0.9%.

USD

GBP

UK retail sales beat expectations on Friday showing growth
of 0.1% instead of a fall of 1.4%, underscoring the fact that the UK consumers
is still spending.

The news continued to support the pound ahead of key 1^st
quarter economic growth data due for release later this week, with growth
expected to increase to 0.9%.

USD

Data from the US was mixed with growth in their service
sector slowing marginally to 54.2 when analysts were expecting further expansion
to 56.2.

Consumer sentiment was on rise however jumping to 84.1 for
the month of April. The data did little to support the US dollar though, with the
currency weakening to a fresh 5 ½ year low against the pound.

Today

Little data out today unfortunately with only pending home
sales and manufacturing data from Dallas due out from the US.

Key Announcements:

15.00pm – USD – Pending Home Sales (Mar): Expected to
increase to 1%.

15.30pm – USD – Dallas Fed Manufacturing Business Index
(Apr): Expected to increase to 6.0.