Friday yet again. The weeks seem to be rolling quickly this year.
Earlier this morning the UK released it’s monthly Retail data. A little softer than expected. Consensus was for 0.5% growth and there was actually a 0.9% contraction. This led to an immediate slight drop. However this halted quickly and normal service has resumed.
The main news for Sterling towards the end of the week was the talk around plan A and plan B for the Winter preparations for dealing with Covid. This commentary from Boris led to a sharper sell off as reality dawned in the markets that the UK isn’t necessarily out of the woods in this pandemic. The correction, whilst sharp, has pretty much rebounded already versus the majors.
Interestingly, when it comes to Covid, our local hospital (Truro in Cornwall), has currently cancelled all non urgent treatments as beds are starting to get filled with Coronavirus patients. This seems in line with the current statistics coming out so keen eyes will be back to tracking the data from the UK.
Later today it’s only the good old Michigan Consumer Sentiment Index data out later in the States that might have an effect on rates outside of any changes to global news stories.
Sunday night also sees the release of Rightmove’s house price data.
Have a great weekend.
As ever we look forward to keeping you in the loop and look out for our next update.
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Today’s Economic Calendar
US: 14:00 Michigan Consumer Sentiment Index
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