Friday, January 20, 2012

UK Retail Sales - Mixed with lower revisions to previous month

This morning at 9:30 GMT (4:30 EST) the Retail Sales numbers for the UK were released. The expectations were up from last month and it is reporting for the Christmas period which is to be expected. The figures were mixed with the Ex Auto Fuel MoM 0.1 lower but the w/AutoFuel YoY coming in +0.2m, there were however some big downward revisions to the previous month, and the GBPUSD forex pair did sell off, which continued the trend since the 8:00 GMT (2:00 EST) European Cash Equity Open, when GBPUSD hit the big mid-century level of 1.5500 and sold off. This 5 minute chart shows this, but also shows the bounce after the news into the US open:
Note this is the high from Tuesday last week, before the pair got sold off on a rumor of a bad Industrial Production figure released on thrusday and followed the EURUSD down on Friday the 13th on the Ratings Downgrades by Standard & Poor's. Here is a 1 hour chart showing this:



Here are the figures:
UK Retail Sales Ex AutoFuel MoM
Estimates- Median: +0.7% Average: +0.6% Range: +0.2% to +1.3%
Actual: +0.6% Prior: -0.7% Revised: -0.8%

UK Retail Sales w/ AutoFuel MoM
Estimates- Median: +0.6% Average: +0.6% Range: 0.0% to +1.0%
Actual: +0.6% Prior: -0.4% Revised: -0.5%

UK Retail Sales Ex AutoFuel YoY
Estimates- Median: +1.7% Average: +1.7% Range: +1.2% to +2.3%
Actual: +1.7% Prior: +0.5% Revised: 0.0%

UK Retail Sales w/ AutoFuel YoY
Estimates- Median: +2.4% Average: +2.4% Range: +1.8% to +3.5%
Actual: +2.6% Prior: +0.7% Revised: +0.4%

and here is the 10 second chart of the Pound STerling versus US Dollar forex trading pair, GBPUSD:

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