UK Retail Sales arrived at 0% MoM in February vs. -0.3% expected

The UK Retail Sales stood at 0% MoM in February, a positive surprise.
Core Retail Sales for the UK rose 0.2% MoM in February.
GBP/USD keeps losses above 1.2600 despite upbeat UK data.

Dhwani Mehta FXStreet

The UK Retail Sales showed no growth over the month in February vs. -0.3% expected and 3.6% registered in January, according to the latest data published by the Office for National Statistics (ONS) on Friday.

The Core Retail Sales, stripping the auto motor fuel sales, rose 0.2% MoM vs. -0.1% expected and 3.4% in January.

The annual Retail Sales in the United Kingdom dropped 0.4% in February versus -0.7% expected and January’s 0.5% while the Core Retail Sales also decreased by 0.5% in the reported month versus -0.9% forecast and 0.5% previous.

Market reaction to UK Retail Sales report

GBP/USD is keeping its downbeat tone intact near 1.2625, despite the upbeat UK Retail Sales data. The spot is trading 0.24% lower on the day.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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