Market Focus

On Thursday, November 16, 2017, attention should be paid to the data on retail sales in the UK. The retail sales is an important indicator of consumer spending, which also characterizes consumer confidence and is seen as an indicator of the pace of development of the UK economy.

• According to the forecast, the volume of retail sales in October rose by 0.1%, against the decline of the previous month at the level of -0.8%, on an annualized basis it will be -0.6%, against the previous value of 1.2%.
• The base retail sales index will grow by 0.1% in October, against the September value of -0.7%, on an annual basis the fvalue will be -0.4%, which is lower than the previous value at 1.6%.

The release of data within the forecast will put pressure on the pound, one should expect the decline of the British currency within 50-60 points against the competitors.

Alexander Sivtsov