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British consumer spending slows in February

2018-03-12 12:11 pm | Resource: NEWS | No Views : 168

British consumers cut spending in February as spending remained a major source of weakness, according to a survey released on Monday by consumer spending index Visa, spending fell 1.1 percent from a year earlier in February.

"High living costs, low wage growth, and relatively low consumer confidence are likely to play a role in the continuing decline in household spending," said Anabel Vides, chief economist at IHS Markit.

"Unless the pressure on incomes drops, it seems unlikely that household spending will rise any time soon."

Mark Antibov, chief commercial officer at Visa, said in March, consumer spending was at risk of announcing one of the worst-rated first-quarter results.

Antibov said retail companies no doubt hoped the more moderate weather would motivate shoppers

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USD/JPY Technical analysis 10 December 2018

Time frame Used - four hours The USDJPY is moving in a bearish direction in the near term. The USDJPY reached to the support level of112.29 to bounce back to the 112.92 level  as the USDJPY faced resistance and selling pressure around this level, forming a lower high to retreat to the 112.64 level, trying to stability above this level , As the USDJPY moves into a bearish channel and…

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