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UK: Retail Sales and Brexit negotiations in focus – TDS

Analysts at TD Securities are looking for the US retail sales to post a -0.2% MoM decline in September (mkt -0.1%).

Key Quotes

“While the heat wave in the second half of the month should support sales, some other survey measures showed extremely weak retail outcomes, and all three PMIs were below 50. So we think that we’re more likely to see a negative print for sales.”

“Brexit negotiations will continue this morning, with the best case scenario now looking like a deal, if done, will be discussed by EU leaders on Friday ahead of a vote in Parliament on Saturday. Full approval in the next few days is ambitious, and while not impossible, remains unlikely in our view. This means that the Benn Act comes into play this weekend, with PM Johnson mandated to write a letter to the EU, requesting an Article 50 extension, with the hopes a deal can still be done next week.”


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