{"id":82069,"date":"2019-11-14T07:52:40","date_gmt":"2019-11-14T12:52:40","guid":{"rendered":"https:\/\/currencylive.com\/?p=82069"},"modified":"2019-11-14T10:39:48","modified_gmt":"2019-11-14T15:39:48","slug":"101499-gbp-cad-pound-loses-intraday-gains-on-weak-uk-retail-data","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/101499-gbp-cad-pound-loses-intraday-gains-on-weak-uk-retail-data\/","title":{"rendered":"GBP\/CAD: Pound Loses Intraday Gains on Weak UK Retail Data"},"content":{"rendered":"<table>\n<tbody>\n<tr>\n<td><a href=\"https:\/\/wise.com\/?utm_source=currencylive-com&utm_medium=affiliate&utm_content=news%2Fwp_json%2Fwp%2Fv2%2Fposts%2F82069&utm_campaign=news\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-65277\" style=\"padding-top: 5px;\" src=\"https:\/\/currencylive.com\/wp-content\/uploads\/2019\/11\/transferwise-inline-banner-money-transfer.jpg\" alt=\"\" width=\"670\" height=\"125\" \/><\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>GBP\/CAD has had several ups and downs during the Thursday session. At some point, the pair managed to gain 0.35% from its daily low to the recent peak, but it wasted the greatest part of the gain after the UK released retail sales data.<\/p>\n<p>Currently, one British pound buys 1.7037, still up 0.08% as of 10:33 AM UTC. The sterling manages to remain stronger despite a set of disappointing UK economic data this week. This is because the Loonie is under pressure amid unclear trade negotiations between the US and China.<\/p>\n<h2>UK Retail Sales Decline<\/h2>\n<p>The British consumers bought less in October, according to data from the Office for National Statistics (ONS). UK retail sales declined last month by 0.1% from September, while economists expected a 0.2% increase. Sales excluding auto fuel fell 0.3%. Thus, retail sales growth over the last three months was the weakest in over one and a half years.<\/p>\n<p>The ONS data shows that British consumers are more reserved when it comes to spending, as the Brexit uncertainty has intensified before the early election scheduled for December 12. UK Prime Minister Boris Johnson called for an early national poll in the hope to consolidate the power of his Conservative Party and handle the exit plan without being worried about the Parliament\u2019s impediments.<\/p>\n<p>The disappointing retail sales data comes after a series of other downbeat economic data, with the UK\u2019s gross domestic product (GDP) growing at its weakest pace since 2010. Elsewhere, the number of employed citizens fell dramatically.<\/p>\n<p>Previously, a strong labor market and consumer spending have supported the UK\u2019s economy since the Brexit referendum, offsetting losses from lower investment and declining manufacturing figures amid the Sino-US trade conflict.<\/p>\n<p>Lynda Petherick, head of retail at Accenture, <a href=\"https:\/\/www.reuters.com\/article\/us-britain-economy-retail\/uk-shoppers-buy-less-adding-to-slowdown-signs-for-economy-idUSKBN1XO1G6\">commented<\/a>:<\/p>\n<p><em>\u201cThese latest ONS figures are symptomatic of the challenges facing the retail sector after a year fraught with uncertainty.\u201d<\/em><\/p>\n<p>Separately, a survey carried out by the Royal Institution of Chartered Surveyors (RICS) showed that the house price index fell from -3 in September to -5 in October. Analysts polled by Reuters expected a slight decline to -4.<\/p>\n<hr \/>\n<div class=\"td-post-content tagdiv-type\">\n<h6><em>Currencylive.com<\/em><em>\u00a0is a news site only and not a currency trading platform.<\/em><\/h6>\n<h6><em>Currencylive.com is a site operated by TransferWise Inc. (\u201cWe\u201d, \u201cUs\u201d), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of TransferWise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on currencylive.com do not represent our views.<\/em><\/h6>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>GBP\/CAD has had several ups and downs during the Thursday session. At some point, the pair managed to gain 0.35% from its daily low to the recent peak, but it wasted the greatest part of the gain after the UK released retail sales data. Currently, one British pound buys 1.7037, still up 0.08% as of [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":65268,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1694,1379],"tags":[1396,1386,1657,1680,1683,1394,1409,1847,1840],"class_list":{"0":"post-82069","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-cad","8":"category-gbp","9":"tag-boris-johnson","10":"tag-brexit","11":"tag-british-pound","12":"tag-cad","13":"tag-canadian-dollar","14":"tag-gbp","15":"tag-gdp","16":"tag-ons","17":"tag-uk-retail-sales"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/CAD: Pound Loses Intraday Gains on Weak UK Retail Data - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/101499-gbp-cad-pound-loses-intraday-gains-on-weak-uk-retail-data\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ileana Ionescu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101499-gbp-cad-pound-loses-intraday-gains-on-weak-uk-retail-data\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101499-gbp-cad-pound-loses-intraday-gains-on-weak-uk-retail-data\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/CAD: Pound Loses Intraday Gains on Weak UK Retail Data\",\"datePublished\":\"2019-11-14T12:52:40+00:00\",\"dateModified\":\"2019-11-14T15:39:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101499-gbp-cad-pound-loses-intraday-gains-on-weak-uk-retail-data\\\/\"},\"wordCount\":600,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101499-gbp-cad-pound-loses-intraday-gains-on-weak-uk-retail-data\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/gbp-cad-currency-performance.jpg\",\"keywords\":[\"boris johnson\",\"Brexit\",\"british pound\",\"cad\",\"canadian dollar\",\"gbp\",\"gdp\",\"ons\",\"uk retail sales\"],\"articleSection\":[\"CAD\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101499-gbp-cad-pound-loses-intraday-gains-on-weak-uk-retail-data\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101499-gbp-cad-pound-loses-intraday-gains-on-weak-uk-retail-data\\\/\",\"name\":\"GBP\\\/CAD: Pound Loses Intraday Gains on Weak UK Retail Data - 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