March 2018 UK retail sales report 19 April 2018

  • Prior 0.8%
  • 1.1% vs 2.0% exp y/y. Prior 1.5%
  • Ex-fuel -0.5% vs -0.4% exp m/m. Prior 0.6%
  • 1.1% vs 1.4% exp y/y. Prior 1.1%

The weather won out.

ONS Notes

  • Headline m/m sales hit by 7.4% fall in petrol sales; likely weather related
  •  Easter and Mother’s Day online sales helped offset some of drop
  • Sales 3M/3M fell 0.5%, while Ex-Fuel sales fell 0.4%
  • Department stores only sector to see growth on the month (0.8%)
  • Online sales accounted for 17.4% of all retailling s/a vs 15.9% a yr-ago
  • Sales likely to trim 0.03pp from Q1 GDP

GBP has taken an obvious hit with GBPUSD down to 1.4161. Ordinarily, a skewed report like this wouldn’t be hit so hard but coming after a bad inflation report, it’s giving the sellers the opportunity to push further. Just make sure to make a note about a rebound next month. For the last two days the UK has had stunningly & unseasonally sunny and hot weather, which is set to last into the weekend. That will bring follks out spending.

Ryan Littlestone

Ryan Littlestone

Psychedelic chartist extraordinaire. Have your shades ready.
Philosophy: “Don’t be a Dick for a tick”

Read how Ryan got into trading here
Ryan Littlestone

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