4:30am (NY Time) UK Retail Sales Forecast 0.4% Previous -0.6%
It’s the primary gauge of consumer spending, which accounts for the majority of overall economic activity.
Retail Sales came out much better than expected at 1.2%, but prior number was revised down from -0.6% to -0.9%. Because of this conflict of releases, market initially only spiked up about 32 pips. I looked at the market sentiment and decided to SELL instead of BUY and was able to pick up some good pips from GBP/JPY pair counting on the break above the 156.00 at the time… Watch this video as I explain the reason behind this trade LIVE…