This morning, after a week of lapping the height, the Great Britain Pound (GBP) slid down against the Japnese Yen (JPY). A recent release on the British Retail Consortium (BRC) reveals Great Britain’s adverse economic condition with a reading of -4.9 percent of the status recorded this year, compared to 0.1 percent last year.
The British Retail Consortium (BRC) Like-For-Like Retail Sales tracks on frequent and accurate basis improvements in the actual value of retail sales from participating companies with invaluable management data. It shows the retail sector’s success. A high reading is perceived as positive (or bullish) for GBP, while a low reading is perceived as negative.
The Consumer Price Index also represents the UK’s declining economy at 1.5%, a bit low from the last month’s 1.7% index. By comparing the retail prices of a representative shopping basket of goods and services, this measures the price movements. Inflation drags down the purchasing power of GBP. The CPI is a key indicator for calculating inflation and trend changes in purchasing.
Whereas the PMI service provided by both the Chartered Purchasing & Supply Institute and the Markit Economics, a measure of the economic situation of the UK services sector, it roughly captures a summary of sales and employment conditions is increased to 06 points as it was 48.3 last month. For the GBP, an outcome above 50 signals is bullish, while the outcome below 50 is seen as bearish.
Considering the overall price activity of the pair, it could be a wise decision to trade GBPJPY. As anticipated in the near future to gain more strength.