UK retail sales and ECB speakers in focus - TDS

Research Team at TDS, suggests that the ECB speakers and UK retail sales will be in focus in today’s European session.

Key Quotes

“No Eurozone data today, but we do have a couple of speakers to keep an eye on, as well as minutes from the last ECB meeting. While we know that the ECB discussed some of the options for how to deal with the bund scarcity issue, we doubt that the minutes will reveal any of the details, or the debate on the pros or cons of various options. Outside of that, The ECB’s Mersch is speaking at the Euro Finance Week conference at 8:10am GMT, and Praet is speaking on a panel in New York at 9:45pm GMT.”

“UK: While we had initially been looking for a flat M/M result for October retail sales, the softer CPI outcome earlier this week has pushed our forecast higher. We’re now in line with consensus at 0.4%, as softer prices help to support higher volumes. Retail sales had their best quarter in a couple of years in Q3, so we’ll see if the momentum carries into Q4.”