A good surprise was the 0.4% MoM increase in UK retail sales in March.
In March, the UK's monthly core retail sales increased by 0.5%.
Following positive UK consumer data, the GBP/USD range remains close to 1.3280.
Retail sales in the UK increased 0.4% month-over-month (MoM) in March following a 0.7% increase in February, according to the most recent statistics released by the Office for National Statistics (ONS) on Friday. In the reporting month, the market anticipated a 0.4% decline.
In contrast to the previously corrected growth of 0.7% and the projected -0.3% reading, core retail sales, excluding auto motor fuel sales, increased by 0.5% month over month.
In the UK, core retail sales increased 3.3% in March compared to 1.8% in February, while yearly retail sales up 2.6% in March compared to 2.2% in February. Both readings exceeded the expectations of the market.
Response of the market to the UK Retail Sales report
The positive UK data has not impressed the GBP/USD, which is currently trading 0.43% down on the day at 1.3280.
In March, the UK's monthly core retail sales increased by 0.5%.
Following positive UK consumer data, the GBP/USD range remains close to 1.3280.
Retail sales in the UK increased 0.4% month-over-month (MoM) in March following a 0.7% increase in February, according to the most recent statistics released by the Office for National Statistics (ONS) on Friday. In the reporting month, the market anticipated a 0.4% decline.
In contrast to the previously corrected growth of 0.7% and the projected -0.3% reading, core retail sales, excluding auto motor fuel sales, increased by 0.5% month over month.
In the UK, core retail sales increased 3.3% in March compared to 1.8% in February, while yearly retail sales up 2.6% in March compared to 2.2% in February. Both readings exceeded the expectations of the market.
Response of the market to the UK Retail Sales report
The positive UK data has not impressed the GBP/USD, which is currently trading 0.43% down on the day at 1.3280.
