UK Retail Sales And Consumer Morale Slide Ahead Of Budget

Forex

Economic

Summary:

Retail sales volumes fell by 1.1% in October compared with a month before, their first month-on-month fall since May, the Office for National Statistics said on Friday.

British retail sales tumbled in October and a closely watched gauge of household sentiment fell this month, adding to signs of waning consumer spending ahead of finance minister Rachel Reeves' budget next week.

Retail sales volumes fell by 1.1% in October compared with a month before, their first month-on-month fall since May, the Office for National Statistics said on Friday.

Economists polled by Reuters had expected sales to be flat compared with the previous month. Compared with October a year ago, retail sales were just 0.2% higher, against forecasts for a 1.5% annual increase.

Sterling fell briefly against the dollar but soon recovered.

Earlier on Friday, Britain's longest-running consumer survey, from GfK, showed a broad-based drop in consumer morale this month which suggested the public was "bracing for bad news" in Reeves' budget on Nov 26.

"The increasingly chaotic run-up to the budget has begun to weigh on consumer spending, judging by confidence nudging down in November and weakening retail sales growth lately," said Rob Wood, chief UK economist at Pantheon Macroeconomics, a consultancy.

Separate ONS data showed higher-than-expected government borrowing last month, underscoring the scale of the challenge facing Reeves.

She is expected to need to raise £20-30 billion (US$26 billion-US$39 billion or RM107.7 billion-RM161.6 billion) through higher taxes due to an expected growth downgrade from the government's budget watchdog as well as higher borrowing costs and an inability to pass planned welfare cuts through parliament.

Overall consumer spending has been subdued due to a continued high savings rate, which economists say may reflect a surge in inflation in 2022, a more recent weakening in the jobs market and concerns about tax rises in the budget.

Recent updates from major retailers have expressed nervousness about the impact of the upcoming budget on consumer sentiment, particularly for more discretionary purchases. However, supermarket Sainsbury's and food and clothing retailer Marks & Spencer were both upbeat on Christmas trading prospects.

The ONS said supermarket, clothing and mail order sales fell in October, with some retailers citing consumers delaying spending ahead of November's Black Friday discounts.

British retail sales volumes remain 3.3% lower than their pre-pandemic level of February 2020.

Source: Theedgemarkets

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Olivia Brooks

Economic

Sales at UK retailers slumped unexpectedly last month as shoppers waited for Black Friday deals, and uncertainty over the upcoming budget dampened consumer confidence.

Retail sales fell 1.1% month on month in October, the first fall since May, according to official figures from the Office for National Statistics (ONS). Economists had been expecting sales growth to be flat on the previous month.

Supermarkets, clothing stores and online mail order companies suffered sales declines, which some retailers said was due to consumers delaying purchases in the run-up to the annual Black Friday sales, according to the ONS.

Clothing, footwear and textile stores posted a 3.3% month-on-month drop in sales, the largest fall, after strong summer when shoppers were motivated to buy clothes during warm weather and sporting events improved consumers' mood.

Supermarkets recorded a sales decrease of 1.1% in October, the second consecutive monthly fall.

Online retail sales fell 1.7% month on month, while fuel sales dropped 2.4% in October compared with September.

Some analysts also attributed the surprise fall in sales in October to consumer jitters over the upcoming budget, which the chancellor, Rachel Reeves, will present next week.

"The uncertainty surrounding what the chancellor's budget next week will mean for individuals is only further dampening consumer confidence and spending intentions," said Rajeev Shaunak, the head of consumer at the accountancy and advisory firm MHA.

"The Christmas trading period will be critical, and early sales indicators are expected to confirm that consumer demand remains sluggish, creating a perfect storm for retailers."

On Friday, the research company GfK released data showing that consumer confidence has fallen on every measure of its index this month.

GFK's five sub-indexes record public opinion about people's personal financial situation, propensity to make big purchases and the UK's general economic situation.

The company recorded drops across all five sub-indexes compared with October, resulting in a two-point fall in overall confidence to -19.

The latest monthly survey, which dates back to 1974, showed particular anxiety among earners on salaries between £35,000 and £49,999, with substantial falls in their expectations for their own financial situation and future spending.

"This is a bleak set of results as we head towards next week's budget," said Neil Bellamy, the consumer insights director at GfK. "The public is bracing for difficult news, with little in the current climate to lift expectations."

The ONS revised retail sales for September up from 0.5% to 0.7%, but said August had been revised down from 0.6% to 0.5% growth.

Overall, retail sales remain 3.3% down compared with their pre-pandemic level from February 2020.

Source: GUARDIAN

To stay updated on all economic events of today, please check out our Economic calendar

Risk Warnings and Disclaimers

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Winkelmann

Forex

Key Takeaways

An overview of MyFastBroker.com, its core features, and whether the platform is considered reliable
The different types of forex brokers covered and how they vary in risk and suitability
Key factors traders should focus on when choosing a broker safely

MyFastBroker.com Forex Brokers: How Reliable Are Its Latest Picks?_1

Many traders rely on myfastbroker.com forex brokers to find potential trading platforms, but the key question remains: how reliable are its latest picks? This article reviews how the platform selects brokers, what risks users should watch for, and how trustworthy its recommendations really are. We focus on clear safety checks, real-world usability, and practical guidance to help traders make confident decisions.

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Should You Trust MyFastBroker.com Forex Brokers in 2025?

While myfastbroker.com forex brokers can be helpful as a starting point, trust should never be automatic. The platform is useful for quick discovery, but traders still need to decide whether its recommendations match real trading safety standards.

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Myfastbroker serves as a useful discovery tool, but not a final authority. Traders should treat it as an initial filter rather than a guarantee of broker safety. The most reliable approach is to combine its listings with independent verification and personal testing.

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Choosing a broker via myfastbroker.com should follow a simple and logical process. This approach helps reduce risk while still benefiting from the platform’s comparison features.

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Risk Warnings and Disclaimers

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FXOpen

Stocks

Today, the Hong Kong stock index HSI is showing downward momentum, dropping below 25,200 for the first time since mid-October.

Factors adding to selling pressure include (according to media reports):

→ Tech sector slump: Hong Kong is following the US, where investors have started offloading tech giants' shares amid fears of an AI "bubble." Market participants worry that current company valuations are overinflated. Even Nvidia's strong report released this week only provided a short-term boost.

→ Geopolitics: In addition to strained trade relations between China and the US, tensions with Japan have added to uncertainty.

→ China's economic data: Indicators continue to raise concerns despite government stimulus measures.

Technical analysis of the HSI (Hong Kong 50 on FXOpen) shows that price action since late summer 2025 formed an upward channel (marked in blue).

At the same time:

→ on 5 November, the price rebounded sharply from the lower boundary, confirming strong buying interest;

→ this week (as indicated by the arrow), it failed to reverse upwards.

As a result, bears have pushed through an important support level and are attempting to consolidate their gains.

It is possible that:

→ the 25,700 level (where the channel was broken) may act as resistance;

→ bears may grow more ambitious, potentially driving the HSI (Hong Kong 50 on FXOpen) down to test key support around 24,800 in the near term.

Source: FXOpen

Risk Warnings and Disclaimers

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Winkelmann

Commodity

Forex

XAUUSD prices have fallen towards the 4,030 USD area following the release of US labour market data.

XAUUSD forecast: key trading points

· Market focus: US Nonfarm Payrolls increased by 119 thousand in September

· Current trend: correcting downwards

· XAUUSD forecast for 21 November 2025: 4,100 or 4,000

Fundamental analysis

On Friday, XAUUSD prices are declining amid weakening expectations of a Federal Reserve rate cut in December after the release of the employment report.

The long-awaited report from the US Department of Labor, delayed due to the government shutdown, showed that the number of nonfarm jobs increased by 119 thousand in September, exceeding the forecast of 50 thousand.

Analysts note that these figures confirm the Fed's October assessment that the labour market is cooling but remains stable. Meanwhile, the unemployment rate rose to 4.4%, the highest level since October 2021, surpassing the expected 4.3%, while wage growth came in slightly above forecasts at 3.8%.

XAUUSD technical analysis

XAUUSD quotes corrected towards the area around 4,030 USD amid growing doubts about a further Federal Reserve rate cut this year. The Alligator indicator is pointing downwards, meaning the corrective movement may continue.

The short-term XAUUSD price forecast suggests further growth towards 4,100 USD and higher if buyers regain control and find a foothold above 4,050 USD. Conversely, if sellers keep prices below 4,050 USD, a decline towards the 4,000 USD support level is possible.

Summary

Gold continues its downward correction, dropping to the 4,030 USD area as market participants doubt the Fed will cut rates at the December meeting.

Source: RoboForex

Risk Warnings and Disclaimers

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Golden Gleam

Economic

Commodity

Gold slipped on Friday and was heading for a weekly drop, as a stronger-than-expected US jobs report reinforced expectations that the Federal Reserve would refrain from cutting interest rates at its December meeting.

Spot gold fell 0.9% to US$4,039.86 per ounce, as of 0643 GMT. Bullion has dipped 1% this week. US gold futures for December delivery dipped 0.6% to US$4,035.60 per ounce.

"Gold prices are consolidating at the moment, and we see the dollar has strengthened quite a bit, and behind it, there is a lot of speculation whether the Fed will continue to cut interest rates or not," GoldSilver Central MD Brian Lan said.

"I think now the market is unsure, and especially, now, when we are going to the end of December, we expect a lot of traders will be taking profit off their positions, and that's what we saw at the end of last week to this week."

The dollar was on track on Friday for its strongest week in more than a month. A stronger dollar makes greenback-priced gold more expensive for holders of other currencies.

The closely watched US Labor Department report, delayed by the federal government shutdown, showed that September non-farm payrolls increased by 119,000, more than double the estimated increase of 50,000.

Traders now see nearly a 39% chance for a Fed rate cut next month. Gold, a non-yielding asset, tends to do well in low-interest-rate environments.

Chicago Fed president Austan Goolsbee repeated on Thursday he is "uneasy" about frontloading rate cuts, particularly with progress on inflation towards the Fed's 2% goal looking to have stalled and starting to go the wrong way.

Meanwhile, physical gold demand across major Asian markets remained weak this week, as volatility in rates deterred potential buyers from making purchases.

Elsewhere, spot silver slipped 2.2% to US$49.48 per ounce, platinum fell 0.4% to US$1,505.96, and palladium dipped 1.4% to US$1,358.15.

Source: Theedgemarkets

To stay updated on all economic events of today, please check out our Economic calendar

Risk Warnings and Disclaimers

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Gerik

Economic

Strategic Timing Ahead of BOJ’s December Deliberations

In a move poised to influence both markets and monetary policymakers, a group of influential economic advisers aligned with Prime Minister Sanae Takaichi’s reflationary agenda will headline a panel discussion hosted by Keidanren, Japan’s top business lobby, on December 17. This event comes just 24 hours before the Bank of Japan (BOJ) begins its two-day monetary policy meeting, scheduled for December 18–19. The proximity of the forum to the BOJ meeting has sparked speculation that it may serve as a signal-setting venue for the administration’s preferred economic direction.

The panel will feature prominent voices such as Etsuro Honda and Masazumi Wakatabe, both of whom have historically championed accommodative monetary policy and fiscal expansion. Their participation is notable not just for their ideological alignment with Takaichi, but for their potential to shape the BOJ's policy tone through public discourse.

Reflationary Policy Advocates Reassert Influence

Prime Minister Takaichi, who assumed office last month, has made reflating the Japanese economy a cornerstone of her economic platform. Her administration finalized a ¥20 trillion ($135 billion) stimulus package on Friday, financed in large part through new debt issuance. The December 17 panel, taking place from 2 to 4 p.m. in Tokyo, offers a platform for key economic thinkers to reinforce the administration’s policy priorities ahead of what could be a pivotal BOJ decision.

Etsuro Honda has already warned against further rate hikes by the central bank, citing risks to economic recovery. Similarly, former BOJ Deputy Governor Masazumi Wakatabe told Reuters that it would be difficult for the central bank to justify another rate increase before the end of the year. Other panelists include economists Toshihiro Nagahama and Takuji Aida, both of whom have served on government panels advocating for large-scale stimulus.

Causal Interplay Between Fiscal Policy, Monetary Strategy, and Currency Pressures

The timing of the event also reflects the delicate balance between fiscal expansion and monetary normalization. Since Takaichi took office, concerns over aggressive government spending combined with the BOJ’s slow pace of interest rate normalization have weighed on the Japanese yen, which has fallen to a 10-month low against the U.S. dollar. The depreciation has raised fresh fears over imported inflation, prompting warnings from financial authorities about the potential impact on consumer prices.

This presents a complex causal landscape: Takaichi’s stimulus-led strategy supports short-term growth but intensifies downward pressure on the yen, which in turn may compel the BOJ to consider rate hikes to stabilize the currency and manage inflation. Yet with core inflation still hovering around the BOJ’s target and growth remaining fragile, rate increases carry significant risks to domestic demand and debt sustainability.

Monetary Policy at a Crossroads: What’s at Stake for the BOJ

The December BOJ meeting will likely be a critical inflection point. If the board signals readiness to raise rates in early 2026, it would mark a departure from over a decade of ultra-loose monetary policy. However, the political environment, shaped by a newly elected administration with a pro-stimulus mandate, complicates that pathway.

The BOJ must now weigh external pressure to address yen weakness and inflation concerns against internal pressure to maintain accommodative conditions for fiscal stimulus to take effect. The public remarks of Honda, Wakatabe, and other reflationist advisers on December 17 may provide insight into how the administration expects the central bank to position itself.

With Japan navigating a fragile recovery, high debt levels, and volatile currency markets, the coordination between fiscal and monetary policy is more consequential than ever. The Keidanren panel offers a strategic opportunity for Prime Minister Takaichi’s economic advisers to assert their vision at a critical moment, potentially swaying the BOJ’s decision-making framework. Investors, policymakers, and international observers will be watching closely to discern whether Japan will double down on stimulus or begin recalibrating its approach to inflation and currency management.

Source: Reuters

To stay updated on all economic events of today, please check out our Economic calendar

Risk Warnings and Disclaimers

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UK Retail Sales And Consumer Morale Slide Ahead Of Budget

Source: Theedgemarkets

Uk Retail Sales Drop Unexpectedly As Shoppers Await Black Friday And Budget

Source: GUARDIAN

MyFastBroker.com Forex Brokers: How Reliable Are Its Latest Picks?

Key Takeaways

What Is MyFastBroker.com

MyFastBroker.com Core Function

Types of Brokers Featured on MyFastBroker.com

MyFastBroker.com vs. Other Broker Review Sites

How Does MyFastBroker.com Select Forex Brokers?

MyFastBroker's Claimed Selection Criteria

Manual Review vs Algorithm-Based Scoring

Potential Influence of Affiliate Partnerships

How to Verify MyFastBroker's Latest Picks: 5 Reliability Checks

Check #1 - Verify Regulatory License Status

Check #2 - Confirm Client Fund Protection

Check #3 - Compare Live Spreads Against Claims

Check #4 - Test Execution Quality & Slippage

Check #5 - Scan Withdrawal Complaints

Should You Trust MyFastBroker.com Forex Brokers in 2025?

When MyFastBroker's Picks Are Trustworthy

When to Stay Skeptical of MyFastBroker.com’s Recommendations

The Final Verdict on MyFastBroker.com Forex Brokers Reliability

How to Choose the Right Broker Using MyFastBroker.com Reviews

Step 1: Filter by Your Trading Profile

Step 2: Cross-Reference with Independent Sources

Step 3: Test Before Committing Large Capital

FAQs about MyFastBroker.com Forex Brokers

1. Who is the most trusted forex broker?

2. Which broker is best for forex in the UK?

3. How to check legit forex broker?

Conclusion

HSI Index Falls To November Low

Technical analysis of the HSI (Hong Kong 50 on FXOpen) shows that price action since late summer 2025 formed an upward channel (marked in blue).

Source: FXOpen

Gold (XAUUSD) Declines After Nonfarm Payrolls

XAUUSD forecast: key trading points

Fundamental analysis

XAUUSD technical analysis

Summary

Source: RoboForex

Gold On Track For Weekly Fall As Strong US Jobs Data Dents Rate-cut Hopes

Source: Theedgemarkets

Japan’s Pro-Stimulus Advisers to Outline Economic Vision Ahead of Critical BOJ Policy Meeting

Strategic Timing Ahead of BOJ’s December Deliberations

Reflationary Policy Advocates Reassert Influence

Causal Interplay Between Fiscal Policy, Monetary Strategy, and Currency Pressures

Monetary Policy at a Crossroads: What’s at Stake for the BOJ

Source: Reuters

Risk Disclosure