Today’s Retail Sales number from UK will be widely watched as this is a high impact yet tradable report. Here is the forecast for this release:

4:30am (NY Time) Forecast 0.5% Previous 0.6%
ACTION: GBP/USD BUY 1.0% SELL -0.1%

The Trade Plan
Retail Sales by definition is a direct measurement of consumer activities at the retail levels. A higher release is generally good for the economy, and better for it’s currency; a lower release is considered as negative for the economy and not good for it’s currency.

Today’s Retail Sales number from UK will be widely watched as this is a high impact yet tradable report. Here is the forecast for this release:

4:30am (NY Time)    Forecast 0.1%   Previous 0.3%
ACTION: GBP/USD         BUY 0.7%       SELL -0.5%

Retail Sales by definition is a direct measurement of consumer activities at the retail levels.  A higher release is generally good for the economy, and better for it’s currency; a lower release is considered as negative for the economy and not good for it’s currency. 

Today’s Retail Sales number will be the first high impact news release out of the UK this week that is somewhat more tradable, as the CPI and MPC Meeting Minutes released earlier failed to move the market; retail sales usually makes up a large portion of the GDP number, market should react to this release with exaggeration if we get our deviation today… here is the forecast for this release: