- European session review: GBP strengthens as more businesses reopen in England
Market news
12 April 2021
European session review: GBP strengthens as more businesses reopen in England
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 06:00 | Japan | Prelim Machine Tool Orders, y/y | March | 36.7% | 65.0% | |
| 09:00 | Eurozone | Retail Sales (MoM) | February | -5.2% | 1.5% | 3% |
| 09:00 | Eurozone | Retail Sales (YoY) | February | -5.2% | -5.4% | -2.9% |
GBP appreciated against most of its major counterparts in the European session on Monday as investors reacted positively to the fact that the English non-essential shops, pubs, gyms and some other businesses reopened today after three months of closures, as part of Stage 2 of Prime Minister Boris Johnson's lockdown exit roadmap. Stage 3 is to start no earlier than May 17.
Boris Johnson called the easing of restrictions "a major step forward in our roadmap to freedom".
"I'm sure it will be a huge relief for those business owners who have been closed for so long, and for everyone else, it's a chance to get back to doing some of the things we love and have missed," he noted.
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