- The UK Retail Sales dropped 0.3% MoM in October, a negative surprise.
- Core Retail Sales for the UK dropped 0.1% MoM in October.
- GBP/USD holds lower ground below 1.2400 on downbeat UK data.
The UK Retail Sales fell 0.3% over the month in October vs. 0.3% expected and -1.1% registered in September, according to the official data published by the Office for National Statistics (ONS) on Friday.
The Core Retail Sales, stripping the auto motor fuel sales, dropped 0.1% MoM vs. 0.4% expected and -1.3% seen in September.
The annual Retail Sales in the United Kingdom tumbled 2.7% in October versus -1.5% expected and September’s 1.0% drop while the Core Retail Sales declined 2.4% in the reported month versus -1.5% expectations and -1.5% previous.
Main points (via ONS)
Automotive fuel sales volumes fell by 2.0% in October 2023; in the three months to October, sales volumes fell by 0.7% when compared with the previous three months, which may be affected by increasing fuel prices.
Food stores sales volumes fell by 0.3% in October 2023, from being unchanged (0.0%) in September 2023.
Non-food stores sales volumes fell by 0.2% in October 2023, following a 2.1% fall in September 2023; retailers suggested that cost of living, reduced footfall and the wet weather in the second half of the month contributed to the fall.
Non-store retailing (predominantly online retailers) sales volumes rose by 0.8% in October 2023 following a fall of 2.4% in September 2023.
FX implications
GBP/USD is testing intraday lows near 1.2375 on the downbeat UK Retail Sales data. The spot is down 0.25% on the day.
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. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
AUD/USD weakens amid anti-risk flow; bearish USD could limit losses
AUD/USD drifts lower on Friday, although it remains confined within a multi-week-old trading range below the YTD high. Trade-related uncertainties and rising tensions in the Middle East weigh on investors' sentiment and the risk-sensitive Aussie. The downside, however, seems limited amid the USD slump to a multi-year low.
USD/JPY seems vulnerable amid geopolitical risks, BoJ rate hike bets
USD/JPY prolongs its downtrend for the third straight day on Friday. The global risk sentiment takes a hit amid an escalation of geopolitical tensions in the Middle East, which boosts the JPY's safe-haven status. The USD plummets to a two-year low amid rising Fed rate cut bets and contributes to the decline.
Gold price advances to one-month peak amid a global flight to safety
Gold price attracts buyers and climbs to over a one-month peak on Friday as rising geopolitical tensions in the Middle East underpin the safe-haven demand. Trade-related uncertainties, rising Fed rate cut bets, and a USD slump to over a two-year low provide an additional boost to the bullion.
Circle plunges 10% as XRP Ledger integrates USDC, EVM sidechain to launch in Q2
Stablecoin issuer Circle saw a 9.1% decline on Thursday after it revealed that it has integrated USDC on the XRP Ledger, making it available for businesses and users on the remittance-based token's blockchain.
US tariffs here to stay, trade deals ‘largely symbolic’
Despite legal challenges to IEEPA tariffs, US trade policy remains firm. Tariffs on steel and aluminium have doubled, and new sectoral tariffs are expected. Trade deals may emerge, but most will be symbolic. Effective tariff rates will stay high throughout 2025.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.