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ASIA

Coming up in the Asia-Pac session on Tuesday:

USDCAD TECHS

Corrective Bounce

AUDUSD TECHS

Bearish Threat Following Friday’s Sell-Off

EURJPY TECHS

Finds Support Below The 50-Day EMA

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UK shop prices rose by an annual rate 0.3% in November, the first increase since May of 2019, according data released by the British Retail Consortium on Wednesday. That follows a 0.4% decline in October.

Food prices accounted for much of the pick up in retail inflation, rising by 0.6% between October and November. That took the annual rate up to 1.1%, the fastest pace since November of 2020, from 0.5% in October. Non-food prices declined by an annual rate of 0.1%, a much shallower decline than the 1.0% fall recorded in October, and the smallest fall since May of 2019.

The BRC data will add to fears that the Bank of England has dramatically underestimated the acceleration in inflation as the recovery continues, with policymakers warning any severe impact from the new coronavirus variant could boost price pressures..