UK April retail sales +1.2% vs +0.2% m/m expected

• Prior +0.4% (revised to +0.1%)
• Retail sales +5.0% vs +4.5% y/y expected
• Prior +2.6% (revised to +1.9%)
• Retail sales ex autos, fuel +1.3% vs 0.3% m/m expected
• Prior +0.5% (revised to +0.2%)
• Retail sales ex autos, fuel +5.3% vs +4.4% y/y expected
• Prior +3.3% (revised to +2.6%)

These are very strong numbers. Not sure why the BoE keeps cutting when they are so far from their target.

This article was written by Giuseppe Dellamotta at www.forexlive.com.