UK Inflation Data and US Retail Sales in Focus as Markets Eye Geopolitics
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UK inflation data due today, expected to show a big shift down for October mainly due to falling energy prices.
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Sterling broke through 200-day moving average on Tuesday as dollar slumped; sticky UK inflation could propel further gains.
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Geopolitics could spoil market optimism - Israel raided hospital in Gaza; Xi-Biden meeting today.
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Good economic news from China added to cheer - retail sales beat expectations, industrial output picked up.
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US retail sales figures due today; drop forecast, but strong reading could dampen rate cut excitement.