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Global macro overview for 10/11/2015

Global macro overview for 10/11/2015:

The UK data on the BRC Retail Sales Monitor indicates the performance for the month of October since 2008. Is says the total value of retail sales between October 4 and October 31 hit the negative level of -0.2% compared with September's surge of 2.6%. Nevertheless, there might be a simple explanation for weak figures in October: the UK residents are saving money for Novembers "Black Friday" sell-off. It is quite possible that retail sales will get back to the mean values after that date.

The GBP/USD pair is heading south again as the resistance at the level of 1.5128 was not broken. The next support is seen at the level of 1.5026.

gbpusd.jpg

The material has been provided by InstaForex Company - www.instaforex.com