Poor UK Retail sales figures dent the pounds purchasing power! (Dayle Littlejohn)

Today the momentum that has been gathering for the pound against the euro diminished, as the UK released poor Retail sales figures. Retail sales fell over 2.5% compared to last months figure showing a drastic decrease in consumer spending.

Tomorrow Mario Draghi is set to address the public with his latest press conference. The latest speech with give an insight into how the ECB observe the current state of the European economy. Further to this Draghi could announce the likelihood of the ECB increasing the Q.E program in December therfore I expect GBP/EUR to have a volatile period tomorrow morning.

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