GOLD: Yesterday’s bearish engulfing candle from a multi-year high..Chart/Levels from Analyst, Nicole Elliott – Investors Chronicle.

 

2019 was worst year ever for UK retailers

Sales fell Y/Y for the first time since data’s been collected

This morning the British Retail Consortium showed that in the combined months of November and December retail sales fell overall by 0.9 per cent taking the rate for a year as a whole to minus 0.1 per cent, the first time they’ve seen a negative number over the calendar year. Like-for-like sales, which strips out changes to floor space available, saw a 1.2 per cent drop during the final 2 months. Spending in pubs and cinemas rose in low double digits.

This morning the Financial Times reports that state-owned Saudi oil tanker giant Bahri has suspended all shipments through the Strait of Hormuz following Iran’s attack on military bases in Iraq. They will assess the risk, but have given no date as to when this busy route might be used again.

Financial Markets and Political Commentary

 

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