The only notable event for the European session was the UK GDP release. Looking ahead we just have some low tier data points until the start of the American session. That's when we'll get the US Retail Sales report which is going to be the main highlight of the day.
13:30 GMT/08:30 ET - US October Retail Sales
The US Retail Sales M/M is expected at 0.3% vs. 0.4% prior, while the ex-Autos M/M measure is seen at 0.3% vs. 0.5% prior. The focus will be on the Control Group figure which is expected at 0.3% vs. 0.7% prior.
Consumer spending has been stable which is something you would expect given the positive real wage growth and resilient labour market. We’ve also been seeing a steady pickup in the UMich Consumer Sentiment which suggests that consumers’ financial situation is stable/improving.
