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Traders opt for selling GBP and EUR (19.07.2018)

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After hitting the 10-month low yesterday, the British currency continues sliding. Expectations that the Bank of England will tighten the monetary policy are weakening with every passing day. In addition to economic reports from the UK, showing that the wages growth slowed down and the inflation remained unchanged, another portion of downbeat news was published today. Investors learnt that the retail sales volume decreased by 0.5% in June while analysts predicted a rise of 0.1%. On a yearly basis the retail sales activity weakened to 2.9% after a robust growth in the previous reporting period. Analysts expected the sales to increase by 3.5%. However, some experts soothe worries of market participants, saying that this slowdown is seasonally adjusted. Nonetheless, traders preferred to sell the British currency, opting for the US dollar. The pound-dollar pair declined below the psychological level of 1.3000. Investors bear in mind optimism and determination of the US monetary authorities. The same sentiment prevails on the euro-dollar pair. The most popular trading instrument on Forex plunged below the level of 1.1600. Neither the United States, nor the Eurozone and the UK will publish any important macroeconomic statistics, so the euro-dollar and the pound-dollar pairs are likely to end this trading week near the current levels. https://www.instaforex.com FX Analytics - https://www.instaforex.com/forex_analytics Forex Calendar - https://www.instaforex.com/forex_calendar Forex TV from InstaForex - https://www.instaforex.com/instaforex_tv Forex charts - https://www.instaforex.com/charts Instant account opening - https://www.instaforex.com/fast_open_live_account Forex Trading Contests - https://www.instaforex.com/forex_contests List of official InstaForex blogs: https://www.facebook.com/instaforex https://www.instagram.com/instaforex/ https://twitter.com/InstaForex
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