U.K. Retail Sales

• Core Retail Sales (y/y) (Oct), fact 2.7%, forecast 3.3%.
• Core Retail Sales (m/m) (Oct), fact -0.4%, forecast 0.1%.
• Retail sales (m/m) (oct), fact -0.5%, forecast 0.2%.
• Retail sales (y/y) (oct), fact 2.2%, forecast 3.0%.

Retail sales in the UK in October declined in all respects, heightening concerns about a slowdown in the UK economy.

Fig. 1. U.K. Retail Sales chart (m/m) 

 

This report only increased the pressure on the British pound, which remained under pressure from the risks regarding Brexit. Thus, the market doubts that the UK government will accept the text of the Brexit agreement, which reinforces the political risks in the UK and increases the possibility of a tough Brexit.

The pair GBP/USD is limited to support levels: 1.2780-50 and 1.2730-00.

Fig. 2. GBP/USD chart. Current price – 1.2780

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Hanzenko Anton

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