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BREAKING: Pound falls after weak UK retail sales data

7:03 AM 24 May 2024

  • UK Retail Sales Inc Auto Fuel (M/M) Apr: -2.3% (est -0.5%; prevR -0.2%)

    - Retail Sales Inc Auto Fuel (Y/Y): -2.7% (est -0.3%; prevR 0.4%)

    - Retail Sales Ex Auto Fuel (M/M): -2.0% (est -0.8%; prevR -0.6%)

    - Retail Sales Ex Auto Fuel (Y/Y): -3.0% (est -1.1%; prevR 0.0%)

  • Germany Q1 final GDP +0.2% vs +0.2% q/q prelim

 

Weak UK economic momentum data may reduce chances of hawkish BoE interest rate decision. The pound loses after the report. 

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