Pound Higher on Upbeat Retail Sales
The just out retail sales report in the UK suggests that consumer spending was stronger than anticipated and fears that spending would stall were unfounded. Today’s upbeat figures have reduced concerns surrounding growth in the nation. Going forward, investors will keep an eye on the UK government’s borrowing report for May that is scheduled for release tomorrow.
Across the Atlantic, consumer prices and the weekly update on initial unemployment claims will be closely monitored. Meanwhile in Europe, focus will be on a meeting of the Euro group which is seen as the final chance to reach a deal before Greece’s scheduled payment to the IMF at the end of this month.