Apr 18, 2013
Forex Flash: UK retail sales for the GBP and Italy Presidential election for the EUR – TD Securities Of great interest to investors, particularly GBP trading, is the UK retail sales report for March:
FXstreet.com (Barcelona) - xOf great interest to investors, particularly GBP trading, is the UK retail sales report for March: “We see a bigger fall than consensus for retail sales after the outsized jump in February. With another month of miserable weather, there could be a decline of –1.0% or more, compared with consensus expectations for a smaller correction of –0.6%”, wrote TD Securities analyst Annette Beacher, expecting the EUR to be moved by news in regard to the Presidential election in Italy. “The Italian government begins voting to elect a new President. For the first three votes (the government can conduct up to two votes per day), we need to see a 2/3 majority to elect a President, but starting from the fourth vote, we only need to see a simple majority (>50%) to elect someone”, said Beacher, adding that it’s still unclear whether there has been enough agreement between the main parties to get sufficient votes for a single candidate to elect.