- The UK Retail Sales came in at -0.3% MoM in February.
- Core Retail Sales for the UK dropped 0.5% MoM in February.
- Cable remains unfazed by the downbeat UK Retail Sales data.
The UK retail sales came in at -0.3% over the month in February vs. +0.2% expected and +0.9% previous. The core retail sales, stripping the auto motor fuel sales, stood at -0.5% MoM vs. -0.2% expected and +1.6% previous.
On an annualized basis, the UK retail sales stood at 0.0% in February versus +0.8% expected and +0.8% prior while the core retail sales also advanced 0.5% in the reported month versus +1.1% expectations and +1.2% previous.
Main points (via ONS):
“Online sales as a proportion of all retailing was 19.6% in February 2020, up from 19.1% reported in January 2020.
The data collection for the period was completed by 29 February and is largely unaffected by recent developments with the coronavirus; however, a small number of retailers suggested that online orders shipped from China were reduced because of the impact of COVID-19.”
GBP/USD fails to react on the downbeat UK Retail Sales data, as it keeps its range near 1.1835 region.
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.