TRUDEAU SAYS TARIFFS WILL BE PAUSED FOR AT LEAST 30 DAYS

MNI BRIEF: US Treasury Lowers Q1 Borrowing Estimate By $9B

MNI BRIEF: Fed's Bostic In Wait And See Mode On Rates

MNI BRIEF: Fed's Collins Expects Tariffs To Raise Prices

MNI BRIEF: Fed's Goolsbee Supports Slowing Rate Cuts

MNI BRIEF: US Dec Core PCE Inflation In Line With Expectations

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

EZ/UK T-Bill Calendar: Spain, Belgium, ESM Auction on Tuesday

MNI: US DEC CONSTRUCT SPENDING +0.5%

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

UK DATA: Retail sales a bit softer than expected - no real market/ monpol impact

UK DATA
Data BulletCEEMEABulletUKMarketsFixed Income BulletsForeign Exchange Bullets

Retail sales a little softer than expected. This year Black Friday was not included in the sample period but it was last year. However, the ONS has noted that its seasonal adjustment accounts for the shift in timing.

  • We wouldn't really place too much weight on this reading though - we don't think any seasonal adjustments for things like Black Friday capture the event perfectly so we prefer to look at Nov+Dec combined (which the BOE will have by the time of the February MPC meeting).
  • Public finance data showed a smaller deficit in November (GBP2.4bln below consensus) but there was a higher revision to the year to October of GBP5.4bln which more than offset this.
  • Overall we don't think there is anything in today's data that will really impact markets. GBPUSD saw no real reaction to the release.
136 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Retail sales a little softer than expected. This year Black Friday was not included in the sample period but it was last year. However, the ONS has noted that its seasonal adjustment accounts for the shift in timing.

  • We wouldn't really place too much weight on this reading though - we don't think any seasonal adjustments for things like Black Friday capture the event perfectly so we prefer to look at Nov+Dec combined (which the BOE will have by the time of the February MPC meeting).
  • Public finance data showed a smaller deficit in November (GBP2.4bln below consensus) but there was a higher revision to the year to October of GBP5.4bln which more than offset this.
  • Overall we don't think there is anything in today's data that will really impact markets. GBPUSD saw no real reaction to the release.