Retail Data Raises Hopes of UK GDP Revision‎

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Key meetings of European leaders lined up during the week remain a determinant for market risk appetite. Recent reports have indicated that the ECB is planning to limit borrowing costs in peripheral nations up to a pre-determined level. The Greek Prime Minister, in his meeting with Franco-German counterparts, is likely to press hard for an extension of the budget cuts deadline set by Troika.

With an upward revision to UK retail sales for June, traders are hopeful that this week’s revised GDP estimates could show a slight improvement. With the latest US macro indicators reducing the prospects of QE3, minutes of the Fed’s last meeting due later this week will be keenly eyed.

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Retail Data Raises Hopes of UK GDP Revision‎

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