From the UK Retail Sales figures were released yesterday. Compared with October 2015, the quantity bought in the retail industry is estimated to have increased by 1.7%. Analysts were predicting 0.6% increase. Average store prices (including petrol stations) fell by 3.3% in November 2015 compared with November 2014, the 17th consecutive month of year-on-year price falls.The amount spent in the retail industry increased by 1.4% in November 2015 compared with November 2014 and increased by 1.4% compared with October 2015. The value of online sales increased by 12.7% in November 2015 compared with November 2014 and by 4.9% compared with October 2015.
In the US session
Unemployment Claims and Philly Fed Manufacturing Index figures were released. In the week ending December 12, the advance figure for seasonally adjusted
initial claims was 271,000, a decrease of 11,000 from the previous week's unrevised level of 282,000. This was in line with market expectations. The 4-week moving average was 270,500, a decrease of 250 from the previous week's unrevised average of 270,750.
Separate report, on Philly Fed Manufacturing Index showed that diffusion index for current activity returned to negative territory this month, decreasing from 1.9 to -5.9. Analysts were anticipating slight incline to 2.1. This is the third negative reading in the past four months. The index for current new orders remained negative and fell 6 points, to -9.5. However, firms reported higher shipments, as the current shipments index increased 6 points to a reading of 3.7. Firms reported a decline in unfilled orders, with the index falling from 2.4 to -17.7.
There will be no major data releases both from UK and USA tomorrow, so we can expect a bit less volatile session, though markets are still be focused on Fed as well as recent UK CPI and job figures but also growing concerns about possible Brexit, though we are still quite far from it.
