UK CBI Retail Sales drop to -5 in June vs. -1 previous

The Confederation of British Industry’s (CBI) latest Distributive Trades Survey showed on Thursday, the UK’s Retail Sales Balance dropped to -5 in June versus May’s -1 print.

Additional details

June Retail Sales 3-month average -14 vs. May -9, lowest in more than a year.

Retail Sales balance for the time of year -19 in June vs. 0 in May.

Market reaction

GBP/USD is trading around 1.2200, consolidating the recovery induced by the upbeat UK Services PMI. Bulls remain wary amid broad risk-aversion and a stronger US dollar.

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