– Buys on close above 159.220 targeting 1h Resistance at 159.650, Leaving Runners to the 30min Resistance at 159.910.
– Sells on close below 158.950 targeting 1h Support at 158.540, Leaving Runners to the next 1h Support at 158.060.
– Retail Sales data for the UK forecasted : 0.5% previous was -0.4%.
why do we have to pay attention to Retail Sales ?
– Retail sales data is important to pay attention to because it provides insight into consumer spending and economic activity. Consumer spending is a significant driver of economic growth, and changes in retail sales can indicate changes in consumer confidence and purchasing power.
– Retail sales data can also be used to measure the performance of individual retailers, as well as the retail industry as a whole.
– Retail sales data is considered as a leading economic indicator and is closely monitored by economists, investors, and policymakers as it can signal changes in the broader economy. This data can be used to make decisions about business strategy, government policy, and investment.
– Retail sales data can also be used to identify trends in consumer behaviour and preferences, which can be useful for retailers and businesses to understand and adapt to changes in the market.