Data now out and a good reading but softer revisions

  • -0.4% prev revised down from +0.2%
  • yy +6.5% vs +4.8% exp vs +3.5% prev revised down from +3.7%
  • Core retails ( ex auto fuel) mm +1.7% vs +0.4% exp vs -0.7% prev revised down from +0.1%
  • yy +5.9% vs +4.7% exp vs +3.2% prev revised down from +3.5%
  • Q3 retail sales +0.9% qq vs +0.8% in Q2, highest since Q4 2014
  • yy +5.0% vs +4.3% in Q2
  • retail sales deflator -3.6% yy vs -3.2% in Aug, lowest since records began in 1988

ONS says retail sales data to add +0.1% to Q3 GDP

ONS citing rugby World Cup-related beer sales as a big factor in better data. I kid you not, and that's not a long-term gain as far as I can see! I guess there's been a boost in hangover cure sales too!

"Revisions to this release were primarily caused by re-referencing the indices to 2012 = 100 to align with the National Accounts estimates (only affecting volume data) and the annual seasonal adjustment review. There were also revisions where late data was incorporated"

Full ONS report here

GBPUSD testing 1.5500-10 again . Big res/offers still up here

EURGBP looking at 0.7300. Some support expected

Watch both pairs as usual