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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD: Ends five-day losing streak, but bias remains bearish

EUR/USD gained 0.19% on Wednesday, snapping a five-day losing streak, however, the outlook remains bearish as the pair is trading well below the former support-turned-resistance of 1.1162 (Aug. 12 low).

EUR/USD News

GBP/USD: Teasing inverse head-and-shoulders breakout

GBP/USD is flirting with the inverse head-and-shoulders neckline resistance of 1.2165 at press time. An inverse head-and-shoulders is a bullish reversal pattern and its success rate is high when it appears after a notable sell-off.

GBP/USD News

USD/JPY: 106.50 tested amid higher S&P futures, Treasury yields

Following a temporary reversal seen on Tuesday, the USD/JPY pair resume the bullish momentum in Wednesday's Asian trading and tests the 106.50 level, tracking the gains in the US Treasury yields and S&P 500 futures. 

USD/JPY News

Gold: Bulls cheer pullback from 10-day EMA

Following its successful bounce off 10-day exponential moving average (EMA), Gold takes the bids to $1507 during the early Asian session on Wednesday. The yellow metal now heads to Friday’s high around $1528 ahead of questioning the monthly top surrounding $1535.

Gold News

FOMC Minutes July 30-31 Meeting Preview: The Fed vs the markets

The Fed policy that switched to neutral in Jan completed the circle last month with first decrease in the base rate in more than a decade from a 2.50% upper target to 2.25%. Markets expect a second cut at the September 18th FOMC.

Read more

MAJORS

Cryptocurrencies

Signatures


  •  
  •  
  •  
  •  
  •