FXStreet (Delhi) – Prashant Newnaha, Rates Strategist at TD Securities, suggests that the UK markets will be focusing on the release of retail sales data for today’s session.
Key Quotes
“September’s retail sales number was boosted significantly by a combination of the inclusion of August’s Bank Holiday in the September sample, coupled with increased activity around the rugby World Cup. While the Bank Holiday effect should drag on retail sales as it drops out of the print, 28 of the 48 games rugby games were played in October, which should provide sustained lift to the month.”
“We see upside risks to the market consensus of –0.5% m/m, with TD expecting a reading of 0.7% m/m, but note that uncertainty remains elevated around this release owing to special factors.”
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