ONLINE FOREX BROKER
The previous month British retail spending declined at the fastest pace since 2008 because customers reduced purchases of non-food goods amid soaring inflation, as a poll disclosed on Tuesday.
On a like-for-like basis retail sales values edged down by an annual 1%, stripping out changes in store size, as the British Retail Consortium informed, compared with September’s 1.9% soar.
Another poll from payments company Barclaycard also disclosed poor consumer spending. The survey pointed to a similar split between expenditure on essentials and the cost of spending on discretionary stuff.
The previous week, the Bank of England lifted interest rates for the first time for more than 10 years.
The vast majority of market experts surveyed by Reuters before the decision were assured that a lift would be an error in part because of the vulnerable state of consumer finances, suppressed by the soar in inflation since Brexit vote.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
2022 was rough: inflation, energy crisis, and plenty of other controversial situations…
The US dollar index keeps rounding above the 103.60 historical support level. The buyers have already defended this level for three weeks, highlighting their interest in the greenback. Thus, buying USD looks less risky right now.
The Reserve Bank of Australia (RBA) will make a statement and release a Cash Rate on February 7, 05:30 GMT+2. It's among the primary tools the RBA uses to communicate with investors about monetary policy.
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
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