• Home
  • Blog
  • Heres Your Daily Currency Update 24 April 2026

Here's your Daily Currency Update – 24 April 2026

logo 21year
Daily Market Report
Currency insight from
Excel Currencies
banner1
Karl
Written by Karl Daly
April 24th 2026
Strong UK Retail Sales (MoM +0.7%, YoY +1.7%) Support Sterling

Today's Key Points
  • Sterling showed modest resilience after strong UK retail sales figures this morning.
  • UK Retail Sales (MoM) beat at +0.7% versus 0.0% expected; YoY came in at +1.7% (better than +1.3% forecast).
  • German Ifo Business Climate softened to 84.4 against 85.7 expected.
  • Yesterday’s US Initial Jobless Claims remained contained.
  • Markets stayed relatively calm with focus shifting to other global sentiment indicators.
  • Current levels: GBP/EUR 1.1528 (0.8675), GBP/USD 1.3480, EUR/USD 1.1690.
  • The retail beat highlights continuing UK consumer strength.
Market Overview

European data releases dominated the past 24 hours. UK retail sales delivered a solid upside surprise this morning, while German Ifo readings pointed to some cooling in business confidence. Currency pairs traded in narrow ranges with sterling finding light support from the strong UK consumption numbers. No major dollar drivers emerged overnight, keeping overall volatility low ahead of the weekend.

GBP/EUR Analysis

1.1528 (0.8675) | 24-hour range 0.18% (high 1.1545, low 1.1520), net move +0.06%

Key factors driving movements in the past 24 hours:
  • Strong UK Retail Sales (MoM +0.7% vs 0.0% expected; YoY +1.7% vs +1.3% forecast) supported sterling.
  • Weaker-than-expected German Ifo Business Climate (84.4 vs 85.7) weighed on the euro.
  • Limited follow-through from yesterday’s US claims data kept the cross stable overall.
  • Technical levels held firm in thin Friday trading.
The positive retail surprise underscored resilient UK household spending, providing a counterbalance to softer European sentiment indicators.

Fresh educational note: Retail sales data, particularly the MoM and YoY figures, offer a direct window into consumer behaviour – a key engine of economic growth that often influences central bank thinking on interest rates and future policy direction.

GBP/USD Analysis

1.3480 | 24-hour range 0.16% (high 1.3495, low 1.3465), net move -0.01%

Key factors driving movements in the past 24 hours:
  • Robust UK retail figures offered sterling some underlying support.
  • Contained US labour market signals from Thursday prevented any sharp dollar moves.
  • Pre-weekend positioning limited overall directional conviction.
  • The pair remained anchored within recent consolidation zones.
Fresh educational note: When high-frequency data like retail sales outperform while labour indicators stay steady, GBP/USD can illustrate how domestic consumption strength helps the pound hold ground against the world’s reserve currency.

EUR/USD Analysis

1.1690 | 24-hour range 0.15% (high 1.1705, low 1.1678), net move +0.02%

Key factors driving movements in the past 24 hours:
  • Softer German Ifo readings exerted mild pressure on the euro.
  • Modest dollar stability after US claims kept downside in check.
  • Slight divergence from GBP pairs reflected eurozone-specific data influence.
Regional data differences created minor variations across the major pairs in otherwise quiet conditions.

Weekly Economic Calendar

Date Time (GMT/BST) Currency Event Actual / Expected Prior Importance
Mon 20 Apr Various Various Lower-tier releases As released - Low-Medium
Tue 21 Apr Various GBP/USD UK Labour & US Housing data As released - High
Wed 22 Apr Various GBP UK House Prices As released - High
Thu 23 Apr 13:30 USD US Initial Jobless Claims 214k / ~210-220k 208k Very High
Fri 24 Apr 02:00 GBP UK Retail Sales (MoM) (Mar) 0.7% / 0.0% -0.6% High
Fri 24 Apr 02:00 GBP UK Retail Sales (YoY) (Mar) 1.7% / 1.3% 1.8% High
Fri 24 Apr 02:00 GBP UK Core Retail Sales (MoM) (Mar) 0.2% / 0.2% -0.6% High
Fri 24 Apr 04:00 EUR German Ifo Business Climate (Apr) 84.4 / 85.7 86.3 High


Events from the past 24 hours are reflected in the pair analyses above.

Conclusion

A clear retail sales beat this morning gave sterling a modest lift and reminded markets of underlying UK consumer resilience, even as German business sentiment softened. With limited volatility and the week winding down, the data mix offered balanced insights without dramatic shifts. A calm close to what has been a steady week of releases.

This report is for informational purposes only and does not constitute financial advice. For tailored currency handling solutions, whether for personal transfers or business needs, contact Excel Currencies for a free quote.