At 09:00 (GMT+2), the UK will release December retail sales data, an indicator that tracks the monthly volume of all goods sold by retailers based on samples of stores of various types and sizes. It is an important indicator of consumer spending, which has a significant impact on gross domestic product (GDP). A correction from –0.1% to 0.1% MoM may follow, and from 0.6% to 0.9% YoY, which could drive the upward trend in the pound.
