Investing.com – The pound pared losses against the U.S. dollar on Thursday, retreating from a daily low, ahead of key U.S. data on initial jobless claims.
GBP/USD hit 1.5613 during European afternoon trade, shedding 0.07% after clawing back up from a daily low of 1.5539.
Cable was likely to find support at 1.5448, Wednesday’s low, and resistance at 1.5701, the high of August 16.
Earlier in the day, the U.K. Office for National Statistics said that retail sales fell for the first time in 7 months, declining by a seasonally adjusted 0.5% in August, after rising by a revised 0.8% in July.
Analysts had expected retail sales to fall by 0.3% in August.
Meanwhile, separate data showed that U.K. consumer inflation expectations rose to their highest level in 2 years in August, while industrial order expectations declined unexpectedly in September.
Meanwhile, the pound was also down against the euro, with EUR/GBP gaining 0.67% to hit 0.8384.
Later in the day, the U.S. was to release key data on initial jobless claims and producer price inflation.
GBP/USD hit 1.5613 during European afternoon trade, shedding 0.07% after clawing back up from a daily low of 1.5539.
Cable was likely to find support at 1.5448, Wednesday’s low, and resistance at 1.5701, the high of August 16.
Earlier in the day, the U.K. Office for National Statistics said that retail sales fell for the first time in 7 months, declining by a seasonally adjusted 0.5% in August, after rising by a revised 0.8% in July.
Analysts had expected retail sales to fall by 0.3% in August.
Meanwhile, separate data showed that U.K. consumer inflation expectations rose to their highest level in 2 years in August, while industrial order expectations declined unexpectedly in September.
Meanwhile, the pound was also down against the euro, with EUR/GBP gaining 0.67% to hit 0.8384.
Later in the day, the U.S. was to release key data on initial jobless claims and producer price inflation.