GBP/USD on track for third consecutive day....>

FOREX: GBP/USD on track for third consecutive day of losses on poor retail sales

-March retail sales including fuel shrank at twice the pace expected as

inclement weather prompted the worst month for petrol sales since 2012. Even

excluding the fuel effect, sales were weaker, dropping by 0.5%. As a result,

GBP, alongside the JPY, is the worst performer among the majors today.

-AUD is slightly stronger against most others as stronger iron ore and copper

markets outweigh what was a generally disappointing jobs report overnight. Macro

funds were said to be buying on the dip, helping lift AUD/USD well out of

post-jobs data negative territory.

-The USD trades mixed and relatively directionless, but the EUR saw a spell of

weakness as an MNI sources report suggested that any changes to guidance are

unlikely in April, with the June meeting "key for potential ECB guidance

change". EUR/USD sits just above the $1.2360 lows at writing.

-The calendar is relatively quiet for the rest of the session, but weekly

jobless claims may elicit interest at 1230GMT.