The UK retail sales grew 0.5% monthly in June, above the 0.4% forecast and the -1.3% in May (figure revised from -1.4%). Annually, the indicator grew for the fourth consecutive month, rising 9.7% and exceeding the estimated 9.6%, but still far from the strong rise seen the previous month of 24.6%.
Excluding fuel, retail sales increased 0.3%, below the 0.6% expected, but above the -2% in May (revised from -2.1%). The annual indicator rose 7.4%, below the 8.2% forecast and 21.7% of the previous month.
GBP / USD reaction
GBP / USD has barely reacted to UK retail sales data. The pair has fallen just under 10 pips with the release, establishing a Daily Low of 1.3753. At the opening of the Asian session, the pound hit an intraday high of 1.3780 against the dollar, standing very close to the one-week highs reached yesterday at 1.3787.
At time of writing, the cross is trading above 1.3755, losing 0.08% daily.
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