UK retail sales data came in better than expected this morning. Month on month they were up 0.8% against a predicted 0.5% and year on year showed a 1.3% contraction when analysts predicted a 2% contraction. This has been good for the Pound which has taken a bit of a bump against the Euro since 8am although still remains just below the 12 month highs.
Across the board the Euro is looking quite weak as traders are favouring the Dollar and the Pound.
Looking ahead the news is quite thin today. The major scheduled release is the People's Bank of China releasing their interest rate decision in the early hours of Monday.
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
CHN: Monday 02:30 PoBC Interest Rate Decision
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