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Analysts at TD Securities explain that the UK retail sales disappointed, falling 0.8% m/m in September versus the small contraction expected by consensus and small gain we were looking for. Key Quotes “This was driven largely by a 1.5% pullback in food store sales, but still leaves the quarter with a decent gain. As the
GBP/USD is trading in a bull trend above the 200-period simple moving average on the 4-hour chart. GBP/USD is supported above the 1.3100 figure and the 100-period simple moving average post-FOMC minutes. The RSI, MACD and Stochastic indicators are in bearish territories suggesting that the bulls still have to work their way up if they
The index manages to keep business above the 95.00 handle. Yields of the US 10-year note extend the sideline theme near 3.17%. US housing sector data, FOMC minutes next of relevance in the docket. The greenback, gauged by the US Dollar Index (DXY), clings to its daily gains above the 95.00 ahead of the publication
No imminent breakthrough is expected from the summit this week ForexLive Theresa May will be in Brussels today and will be addressing European leaders before the pre-summit dinner is scheduled to take place. Despite her appearance, any hopes of a Brexit deal breakthrough is as low as it has ever been in recent weeks. Talks
CRUDE OIL & GOLD TALKING POINTS: Crude oil prices rise on risk recovery, API inventories report Gold prices stall, RSI divergence warns of a downturn ahead Hawkish FOMC minutes may broadly weigh on commodities Crude oil prices rose against the backdrop of improving risk appetite, with the WTI contract tracking the bellwether S&P 500 indexhigher.
Analysts at the Hong Kong and Shanghai Banking Corporation (HSBC) offer a brief preview of the upcoming UK inflation data due later today at 0830 GMT. Key Quotes: “The August inflation data surprised to the upside – the annual rates of CPI, core CPI and RPI inflation all came in 0.3pp higher than consensus expectations.
Bert Colijn, Senior Economist at ING, notes that the Eurozone exports increased 2.1% month-on-month on a seasonally adjusted basis in August, after a decline of 1% in July. Key Quotes “Imports fell slightly in August and as this data is in nominal terms, this is surprising given the higher oil price. This means that the
Analysts at TD Securities point out that after reports that negotiators had concluded a draft Withdrawal Agreement last week came the news that Theresa May was unable to offer political sign-off on the draft. Key Quotes “Accounts vary, but it looks like the EU is willing to accept the UK’s proposal of a UK-wide customs