Market insights

Horrible UK Retail Sales Numbers

The UK Chancellor, Rachel Reeves, won't have had the best breakfast this morning.

Retail sales numbers came in 2.2% worse than had been predicted.

Consumers cutting back on non essentials such as tobacco and alcohol have been cited.

This caused an immediate, albeit relatively minor, downshift in Sterling rates.

Overall, currency markets have been largely uneventful towards the end of the week despite potentially big news stories.

With most numbers coming in in line with predictions, it was all a bit of a storm in a teacup.

Today sees Eurozone consumer confidence, but it's the start of next week with a raft of manufacturing and services data that might get things moving.

Of course global news events are also a distinct possibility over the weekend which could easily spill into currency markets if traders shift to perceived safe havens.

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Economic calendar

EUR: 15:00 Consumer Confidence

As ever we look forward to keeping you in the loop and look out for our next update.

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