Market updates on June 20
What is moving the markets today
British shoppers are expected to spend up to £10bn in Black Friday sales
In the week of so-called Black Friday, UK customers are believed to spend about £10.1bn, which is almost 4% higher than in 2016, as more retailers participate in the US-inspired promotional day.
However, the bargain fever observed in earlier years won’t mostly likely come true because most activity will be online with market experts warning that the discounts will be less thrilling on the day, falling on 24 November in 2017.
British companies are finding it a daunting task to deliver substantial price cuts amid firm inflation partly resulting from the dip in the value of the UK currency since last year’s Brexit vote and also ascending business rates as well as other costs.
Increased cost prices suggest retailers aren’t capable of offering the level of discounts actively advertised last year. In other words, demand might fluctuate because customers are less prone to making bargain purchases on impulse, as market experts explain.
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Canada will publish the level of core retail sales on June 21, at 15:30 MT.
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