FXStreet (Delhi) – Research Team at TD Securities, believe that following are the three key events for the week on which traders will keep their eye on to gauge the future direction of the UK’s economy:
Key Quotes
“1. September Retail Sales (22 Oct): The consensus expects the ex-auto fuel component to rise 0.4% m/m (4.7% y/y) in September. Brisk real earnings growth should provide a tailwind for consumption although measures of consumer confidence have lost some momentum in recent months.”
“2. September Public Sector Net Borrowing (21 Oct): While recent monthly numbers have been tossed about by the timing of returns in some of the underlying tax categories, PSNB data so far in 2015 continues to point to strong gains in tax revenues, suggesting a healthy domestic economy. Markets expect September’s ex-banking data to show a slight decline of borrowing to GBP 11.0 bn for the month, which should leave net borrowing for FY2015/16 as a whole on track to decline relative to last year.”
“3. China President Xi Jinping’s State Visit (20-23 Oct): Details are starting to leak out ahead of President Xi’s visit next week (the first Chinese state visit in a decade), with some major investments rumoured to be announced during his state visit. Look to announcements relating to investment in nuclear power, high-speed railways, and telecommunications to help boost UK business investment over the medium term.”
(Market News Provided by FXstreet)