UK retail sales July 2018 0.7% vs 0.2% exp m/m

July 2018 UK retail sales data 16 August 2018

Prior -0.5%
3.5% vs 3.0% exp y/y. Prior 2.9%
Ex-fuel 0.9% vs 0.1% exp m/m. Prior -0.6%
3.7% vs 2.8% exp y/y. Prior 3.0%

Sales in food were strong due to the weather and world cup.

ONS Notes:

Food sales continued to benefit from warmer weather and World Cup
Non-store retailing showed strong growth encouraged by online promotions
Online spending and department store sales continued to grow reaching record proportions
Non-food stores record a reduction in footfall from the prior month

GBPUSD reverses the pre-data drop to 1.2698 to print up to 1.2725. Good numbers but nothing game changing and we should perhaps expect a retrace in sales next month, now the weather and world cup is stripped out.