UK August retail sales data now out 20 Sept
- 0.6% prev revised up from 0.3%
- yy 2.4% vs 1.1% exp vs 1.4% prev revised up 1.3%
- Core retail sales mm 1.0% vs 0.1% exp vs 0.7% prev revised up from 0.5%
- yy 2.8% vs 1.4% exp vs 1.7% prev revised up from 1.5%
Up goes the pound.
GBPUSD testing 1.3600 EURGBP down to 0.8840 but GBP sellers will be poised here on the algo overshoot.
Decent data though and in the midst of current rate hike frenzy will please the bulls so sellers should be cautious.
The ONS says:
- 3M/3M All retail sales s/a volume rose 1.2%
- Other non-food stores & non-store retailing main gainers to growth
- Store prices rose across all store types in August
- Unless growth in Sep figures hit 2.9%, Q3 sales will have been weaker than Q2
- Non-food stores (3.2%) & non-store retailing (3.3%) prices highest y/y growth since Mar 1992
Full report here
UK retail sales mm
