Five Things You Need to Know to Start Your Day: Europe
Get up to speed with what the markets are monitoring
Good morning. The UK releases retail sales data. Stocks are roaring back as US recession fears ease. And a popular yen-carry trade may be creeping back. Here’s what people are talking about.
Today we get the final piece of a string of key data out of the UK this week. After yesterday’s GDP data showed the economy maintained a solid recovery, investors will be keen to see if today’s retail sales can give them more clues about how fast (or slow) the Bank of England will go in its easing cycle. The BOE started to cut interest rates earlier this month, but officials are keeping policy restrictive to finish off the fight against inflation. Retail sales for July probably benefited from sunnier weather.