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GBP to USD Forecasts: Bulls Eye $1.25 on US GDP and Jobless Claims
It is a quiet day ahead for the GBP/USD. Early in the session, CBI distributive trade figures for January will be in the spotlight. The CBI Distributive Trade Survey provides a health check of the retail sector and is a leading indicator of retail sales. Economists forecast a decline from 11 to -5 in January. In November, the indicator had stood at -19 versus 18 in October. If last week’s retail sales figures for December are a guide, there could be a larger-than-forecasted decline in January, which would be price negative for the Pound. In December, retail sales slid by 1.0%, following a 0.5% decline in November. ... (full story)