The retail sales reports are a primary indicator of personal spending and are therefore watched closely by the forex markets.

The forex market focuses on the core headline figure to get an idea of how the consumer is behaving but the retail sales reports can get widely distorted.

Bad weather can impair consumer mobility or alter shopping patterns and petrol price hikes can have a distorting effect.

Big ticket items can be particularly volitile and are often the first to be cut back if consumers are uncertain about the economic outlook.

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