Global macro overview for 17/12/2015:
The UK released an important set of economic data on retail sales today. The strong data significantly beat the expectations. Market participants expected retail sales with auto fuel at the level of 0.6% m/m (3.0%y/y), but the data came in at the level of 1.7%m/m (5.0%y/y). Nevertheless, please remember that these are sorts of numbers you would expect to see in this time of year as the Black Friday strongly featured in sales readings.
The GBP/USD pair positively responded to the news, but then reversed and got back into the daily trading range. Currently, the pair is trading at the level of 1.4944 and the next support is seen at the level of 1.4894.
