GBP/USD nears 1.2100 as UK retail sales unexpectedly rise 0.2% m/m in July
|- The UK retail sales arrive at +0.2% m/m in July.
- The UK core retail sales rise 0.2% m/m in July.
The UK retail sales came in at +0.2% over the month in July vs. -0.2% expected and +0.9% previous. The core retail sales, stripping the auto motor fuel sales, stood at +0.2% m/m vs. -0.2% expected and +0.8% previous.
On an annualized basis, the UK retail sales rose 3.3% in July versus 2.6% expected and +3.8% prior while the core retail sales also advanced 2.9% in the reported month versus +3.6% previous and +2.3% expectations.
Main Points (via ONS):
“The quantity bought in July 2019 increased by 0.2% when compared with the previous month, with strong growth of 6.9% in non-store retailing.
Department stores’ growth increased for the first time this year with month-on-month growth of 1.6%; this was following six consecutive months of decline.
In July 2019, online retailing accounted for 19.9% of total retailing compared with 18.9% in June 2019, with an overall growth of 12.7% when compared with the same month a year earlier.”
GBP/USD picked up fresh bids and hit daily tops at 1.2085 after the UK Retail Sales delivered an upside surprise across the time horizon.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.