UK Retail Sales m/m 12/17/09

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4:30am (NY Time) UK Retail Sales Forecast 0.5% Previous 0.4%
ACTION: GBP/USD BUY 1.1% SELL -0.1%

Definition:

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Is a direct measurement of consumer activities at the retail levels. A higher release is good for the economy, thus better for it愀 currency; a lower release is considered as negative for the economy and not good for it愀 currency. Retail Sales makes up a substantial part of the GDP, and the effect of this release could be very profound given the low liquidity condition of the market.

Update: Correlation trade and closed with 52 pips of profit.

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