Analysts at TD Securities suggest that the UK retail sales for January are going to be the key economic release for today’s session, and they are looking for downside risks, with a 0.2% m/m decline (mkt: 0.2%).
Key Quotes
“Recent Visa spending data suggests this print could come in even lower. Caution should be taken interpreting any single month of retail sales data around the volatile Black Friday November, Christmas December, and Gift Card January time of year, though, but our forecast would imply an average growth rate over those three months of just under 0.1% m/m, showing little momentum in retail sales into the first quarter.”
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