PREVIOUS TRADING DAY EVENTS 18 August 2023

According to the U.K. retail sales data released on Friday, volumes are estimated to have fallen by 1.2 in July 2023 following a rise of 0.6 in June 2023 revised from an increase of 0.7. This was a biggerthanexpected decline in sales in July. Retailers indicated that the increased cost of living and food prices continued to affect sales. The pound weakened but not dramatically after the release. 

It was a particularly bad month for supermarkets as the summer washout combined with the increased cost of living meant sluggish sales for both clothing and food, Heather Bovill, deputy director for surveys and economic indicators at the Office for National Statistics ONS, said. Department store and household goods sales also dropped significantly.

Our view is still that the growing drag on activity from higher interest rates will eventually generate a 0.5 peak to trough fall in real consumer spending, Ruth Gregory, deputy chief UK economist at Capital Economics, said.

Source

httpswww.reuters.comworldukbritishretailsalesfallbylargerthanexpected12july20230818

Winners vs Losers

USDCAD was leading last week with 1.01 gains. It is on the top of the months list too with 2.83 gains as well.
USDJPY is following with 0.61 gains last week. 

News Reports Monitor Previous Trading Day 18 August 2023

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Midnight Night Session Asian

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