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UK retail sales: Petrol prices reported largest recovery, up 4.7% in April - ONS

Following the release of the UK April retail sales report, the Office for National Statistics (ONS) offers further details, as highlighted below.

Petrol prices reported the largest recovery, up 4.7% in April vs -6.9% in March.

Sales volumes 3M/3M rose just 0.1% s/a.

The volume of goods sold over last 6-mths broadly unchanged.

Department stores only major sector to not see rebound in quantity bought.

Online sales grew 17.3% y/y compared to 16.1% a yr-ago.

Gold climbs back closer to weekly tops, nearing $1300 mark

   •  Dovish FOMC minutes prompt some USD profit-taking and help regain positive traction.    •  Sliding US bond yields/cautious mood provides an add
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GBP/USD regains 1.3400 and beyond on UK data

Happy days for the Sterling following an upbeat note from April’s Retail Sales, with GBP/USD advancing to fresh daily highs above 1.3400 the figure.
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