The US consumer spending strengthened in December amid higher demand for services and goods, though an increase came at the cost of savings, which fell to the lowest level in 10 years in a worrying sign for future economic growth and consumption.
The US consumer spending strengthened in December amid higher demand for services and goods, though an increase came at the cost of savings, which fell to the lowest level in 10 years in a worrying sign for future economic growth and consumption.
The Sterling jumped against the Dollar, after the preliminary Britain's GDP report showed that the country's economy accelerated growth pace more than anticipated by the end of 2017.
The British Pound appreciated against the US Dollar on the official UK labour market data.
The British Pound appreciated against the US Dollar on the official UK labour market data.
As the US Dollar continued to lose value against the rest of the financial markets, the GBP/USD currency exchange rate has surged and reached the 1.40 mark.
The British Pound fluctuated against the US Dollar after the UK retail sales report, falling initially by 4 base points to the 1.3916 mark.
The British Pound fluctuated against the US Dollar after the UK retail sales report, falling initially by 4 base points to the 1.3916 mark.
Building permits were down 0.1% to a 1.30M units rate in December, adding to a total 4.7% rise to a rate of 1.26M units in 2017, the strongest level in ten years.
The Sterling weakened against the US Dollar on the row of mixed economic data releases for Britain on Tuesday.
The Sterling weakened against the US Dollar on the row of mixed economic data releases for Britain on Tuesday.
The US retail sales rose in December, as consumers bought more goods and the previous month's figures were revised up, indicating that the country's economy finished 2017 with solid momentum.
The US retail sales rose in December, as consumers bought more goods and the previous month's figures were revised up, indicating that the country's economy finished 2017 with solid momentum.
The Sterling received some pips against the US Dollar on the upbeat UK manufacturing report.
The British Pound rose slightly against the Greenback on the country's house price data.
The British Pound rose slightly against the Greenback on the country's house price data.
The US employment growth weakened significantly in December due to a decrease in retail jobs, while a surge in monthly pay gains indicated the labour market strength, which could enable the Federal Reserve to hike interest rates in spring.
The Sterling ignored the UK services PMI report, with the GBP/USD currency pair revealing a little initial reaction just after data came in.
The Sterling retreated from September highs against the US dollar, following the report showing a slowdown in the UK building business.
The GBP/USD currency pair was little changed on the report, while remaining under bullish sentiment to head for the 1.3600 mark.
Factory activity in Chicago strengthened again by the end of the year, according to the MNI survey.
Factory activity in Chicago strengthened again by the end of the year, according to the MNI survey.
Contracts to purchase previously owned houses increased in November, supported by the job growth in the strengthening US economy.
The Federal Reserve of Richmond released its survey, showing that the manufacturing growth was slower over the month of December.