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What to expect from the UK Retail Sales on Friday?
Will Traders Drop the GBP Ahead of Tomorrow’s Data?
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This month’s game changer!
UK Retail Sales (January) m/m on Friday, February 16th, 2018 at 9:30 GMT.
Last month, the UK’s retail sales data signalled a larger than expected reduction in retail sales (-1.5% vs -0.6% expected) in December.
Recent data published by the British Retail Consortium indicate an improvement in retail sales, amid cautious consumers and higher sourcing costs due to the strength of the sterling.
Analysts expect the Official Government data to reveal a 0.3% increase of UK retail sales in January, pushing up the GBP.
What do you think?
Will the official UK Retail Sales data confirm the turnaround? Or will the GBP take traders by surprise and drop?
Why are retail sales so important?
Retail Sales measure the change in the total value of inflation-adjusted sales at the retail level.
This is an important indicator of consumer spending, which contributes to the measure of overall economic activity.
A higher than expected reading is generally considered as positive (bullish) for the pound sterling (GBP), whereas a disappointing result can be taken as negative (bearish) for the British currency.
