UK Retail sales preview – TDS

Research Team at TD Securities presents the preview for the UK retail sales lined up for release today at 0830GMT.

Key Quotes:

“GBP In the near-term, Brexit is about firms not consumers (housing market possibly aside)”

“As a result, we expect July retail sales to show a +0.5% gain for June (mkt +0.1%).  July’s rebound would be consistent with some of the (sometimes noisy) retail indicators during the month but perhaps more importantly, the weather was generally good across the UK, which should provide a lift”

“Brexit will bite eventually, but that is a medium-term story, not a short-term one”