EU Flash Manufacturing & Services PMI will come out on Friday at 11:00 MT time!
How much will British retail sales drop?
The British retail sales will be announced on Friday at 9:00 MT time.
Instruments to trade: GBP/USD, GBP/CAD, GBP/AUD, GBP/CHF, GBP/JPY, GBP/NZD
Let us remind you that the British lockdown started on March 24. For two weeks from that day sales dropped by 27%! It happened as all the stores except supermarkets were closed. According to the British retail consortium, in comparison with 2019, this years’ March sales fell by 4.3%. That was the largest sales fall in the history of the UK. Even the panic-buying ahead of the quarantine didn’t help to increase the spending rate. As a result, the British pound plummeted. Now we are waiting for the retail sales data from the government. As the country extends the lockdown, the numbers will probably be disappointing.
If the retail sales’ indicator is greater than the forecast, the British pound will rise, otherwise – fall.
Canada will publish the monthly GDP growth on October 30 at 14:30 MT time.
The European Central Bank publishes the monetary policy statement alongside with an update on the interest rate on October 29, at 15:45 MT time.
The Bank of Canada will publish the rate statement together with the interest rate on October 28, at 17:00 MT time.