UK July retail sales report now out 17 Aug

  • 0.3% prev revised down from 0.6%
  • yy 1.3% vs 1.4% exp vs 2.8% prev revised down from 2.9%
  • Core retail sales mm 0.5% vs 0.1% exp vs 0.6% prev revised down from 0.9%
  • yy 1.5% vs 1.2% exp vs 2.8% prev revised down from 3.0%

Big leap in core retails but softer revisions across the board sees GBPUSD rally briefly to 1.2910 and EURGBP down to 0.9096 but GBP sellers prevailing for the moment.

I did say in my preview that these figures are erratic so let the algos knee-jerk first.

Say the ONS:

  • Underlying sales s/a (3M/3M) remain positive at 0.6%
  • Strong food sales offset household goods stores, rising 1.5% in July after -1.1% in June
  • All other sectors except food and household goods stores declined on the month for the quantity bought in retail sales.
  • Quantity bought rose 1.3% versus July 2016; 51st consecutive y/y increase in sales since April 2013

Full report here

Currently 1.2885 and 0.9109

UK core retail sales mm