We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Mixed
USD/JPY
Bullish
Gold
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Bitcoin
Bearish
More View more
Real Time News
  • Forex Update: As of 03:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.04% 🇬🇧GBP: 0.03% 🇨🇦CAD: 0.02% 🇦🇺AUD: -0.00% 🇳🇿NZD: -0.02% 🇨🇭CHF: -0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/MhXCqXQZBS
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 98.17%, while traders in France 40 are at opposite extremes with 83.60%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/51OEaBUR7T
  • RT @YuanTalks: #PBOC cut yuan’s fixing by 89 pips to 7.0306 per USD, vs 7.0217 one day earlier.
  • RT @globaltimesnews: China urges the US to stop provocations to avoid unforeseen incidents. The Chinese military is determined to safeguard…
  • The $AUD and its local #ASX 200 stock index have diverged in what may be a sign of market confidence in ebbing US-China trade war and #Brexit risks. Get your market update from @IlyaSpivak here: https://t.co/nuN48hX6d6 https://t.co/7eMZlyYqaM
  • Japan, South Korea still in talks to avoid ending intellectual pact -BBG citing Kyodo
  • Fascinating read. Highly recommend. https://t.co/ZU71iqJzXe
  • The #Euro has stalled after brief recovery against the US Dollar. The dominant price trend bias continues to favor weakness on the horizon. Get your $EURUSD market update from @IlyaSpivak here:https://t.co/ooJMpdE8xq https://t.co/yT5oj0G82s
  • #USDCHF pivot points (daily) – S3: 0.985, S2: 0.9886, S1: 0.9908, R1: 0.9943, R2: 0.9957, R3: 0.9993- https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • RT @lisaabramowicz1: Hedge-fund firms reported the eighth straight month of client redemptions in October, the longest stretch of withdrawa…
Forex News: UK Retail Sales Drop at Start of Q4

Forex News: UK Retail Sales Drop at Start of Q4

2012-11-15 10:24:00
Benjamin Spier, Technical Strategist
Share:

THE TAKEAWAY: UK retail sales drop 0.7% in October, sharpest decline in 6-months -> Consumers spend less at start of Q4 -> Sterling trading steady

UK retail sales declined at the sharpest rate in 6 months according to the UK Office of National Statistics. Retail sales (excluding auto fuel) in October were reported at -0.7% versus an expected 0.1% decline, and lower than September’s revised 0.5% rise in retail sales. Retail sales in October were 1.1% higher than October 2011.

The average weekly spending on UK retail sales in October was 6.8 billion Pounds, compared with 6.6 billion in September. Internet sales were 0.5% higher in October.

Just yesterday, the Bank of England inflation report said they expect the UK economy to continue to experience pressure from the Euro debt crisis and predicted a possible decline in Q4 GDP. This economic release indicates a drop in consumer spending during the first month of Q4.

Although the results were worse than expected, Sterling did not sustain any losses in currency markets, possibly experiencing a pickup from a simultaneous rise in Euro. GBPUSD is currently trading slightly below 1.5850 after setting a new 2-month low at 1.5822 earlier in the session. Support might be provided now by the key 1.5800 figure.

GBPUSD 15-minute: November 15, 2012

UK_Retail_Sales_Drop_at_Start_of_Q4_body_gbpusd.png, Forex News: UK Retail Sales Drop at Start of Q4

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.