UK Retail Sales

Pound Sterling eased from recent highs against the Euro, Dollar and other currencies in the final session of the week after retail sales were reported to have fallen further than expected in July with declines seen across most product categories but partially attributed to rainy and overcast weather during the period.

The Pound to Australian Dollar exchange rate remained buoyant near its highs for the period in the final session of the week as bilateral economic developments helped to maintain an improved bond yield differential as the U.S. Dollar softened and Renminbi strengthened in the background. 

Pound Sterling stumbled into the final session of the week after Office for National Statistics (ONS) data suggested UK retail sales crumbled in September, effectively erasing more than two years of gains built since the first coronavirus-inspired closure of the economy in 2020. 

Despite surging inflation, UK retail sales surprised by growing in July, although a much-watched measure of consumer confidence plummeted to an all time low.

The British Pound is set to remain under pressure as the UK economy faces significant headwinds, as confirmed by the latest retail sales figures.

UK retail sales fell in May as consumers felt the strain of rising prices, denying the British Pound a much needed boost ahead of the weekend.

Under pressure UK retailers say they see easing inflationary pressures ahead, but sentiment and business investment intentions remain resolutely forlorn.

The British Pound turned higher following another better than expected economic data release.

Pound Sterling held above a key level against the U.S. Dollar after UK retail sales for January beat analyst expectations.

Although retail sales fell by a far greater margin than the market was looking for, economists say the data are unlikely to prevent the Bank of England from raising interest rates again in February.

The Pound is the best performing major currency of the past week, helped by a string of supportive economic data that includes Friday's consensus-beating retail numbers.

The British Pound held recent gains following PMI data that pointed to a strengthening UK economy.

"August’s retail sales data bring more evidence that the recovery in consumers’ spending has lost considerable momentum."

The latest CBI quarterly Distributive Trades Survey showed retail sales in the UK grew at the sharpest pace since December 2014 in the year to August, while orders growth hit a survey record high.

The UK's 2021 rebound was supposed to be a world-beater, but yet another sign that this might not be the case has dropped.

UK retail sales data for June beat the market's expectations, however a combination of headwinds suggest such strong readings will unlikely be repeated in coming months.

A survey of the UK's retail and wholesale sector confirms a strong rebound in activity is underway, however supply constraints are becoming increasingly acute and hint at higher inflationary levels over coming weeks and months.

The British Pound has fallen ahead of the weekend in the wake of retail sales that disappointed against market expectations.

UK retail sales rose sharply in April and were higher than pre-pandemic levels according to new data that suggests the involuntary savings acquired by consumers during months of lockdown are being put to work.

The UK economy will be boosted by a sizeable pick up in consumer spending in 2021 as pent up savings are spent according to economists at Deutsche Bank, who say that the Bank of England might be underestimating the scale of the consumer-lead rebound.