UK Retail Sales jump 0.6% MoM in October

The UK retail sales arrived at 0.6% over the month in October vs. 0% expected and -1.5% previous. The core retail sales, stripping the auto motor fuel sales, rose 0.3% MoM vs. 0.6% expected and -1.5% previous.

On an annualized basis, the UK retail sales plunged 6.1% in October versus -6.5% expected and -6.8% prior while the core retail sales tumbled 6.7% in the reported month versus -6.7% expectations and -6.1% previous.

The EURGBP cross hits a nearly two-week low during the first half of the European session on Friday, albeit continues to show some resilience below the 0.8700 mark.