UK Data Released

Written May 21, 2009 at 4:35 AM EST by  

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UK’s Retail Sales beat forecasts at 0.9% from the previous 0.3%.  A rise to 0.5% was expected. 

UK’s M4 Money Supply rose as well to 0.9% from the previous 0.2%.  A rise to 0.5% was forecast.

The UK Prelim Business Investment dropped to -5.5% from the previous -1.5%.  A drop to -4.0% was forecast.

Despite Retail Sales beating forecasts the GBP is having a hard time recovering after that exaggerated move.  The GBPUSD is right near session lows.

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