Very rarely a market mover but the CBI retail data could be closely watched for further Brexit fallout
At the top of the hour we get the latest CBI retail data. Within it we get distributive trade sales, which is basically the wholesale side, as well a look at retail sales.
Last month the report showed that sales were slightly higher than usual for the time of year and there were wasn't much pre-referendum anxiety.
This report is the first from the retail side after the vote so the market will be looking at it very closely. A bad report will aid expectations that the UK is going to slump and therefore the BOE will act. A good number may not change minds over the BOE but it could bring a small relief rally in the pound, like we saw with the mortgage data yesterday.
Retail distributive trades are expected in at 1 vs 4 prior and total reported distributive sales came in at 14 last month, no expectations.
Just something to be aware of from a usually dull number.
