Pound Sell-Off on Sub-par Retail Sales, GDP Up Next

Softer-than-expected retail sales and money supply data preceded a sell-off in the British pound as it falls from the recent 26-year highs. Tomorrow comes the major economic event; GDP which is expected to print in-line with estimates.

[B][U]UK Fundamentals:[/U][/B]
[B][I]Next 24 Hours: (7/19)[/I][/B]
[B]? GDP (QoQ) (2QA)[/B]
Survey: 0.7%
Previous: 0.7%
[B]? GDP (YoY) (2QA)[/B]
Survey: 2.9%
Previous: 3.0%
[B]? Index of Services[/B]
Survey: 1.0%
Previous: 1.0%
[B][I]Last 24 Hours:
[/I]? Retail Sales (MoM) (JUN)[/B]
Actual: 0.2%
Previous: 0.4%
[B]? Retail Sales (YoY) (JUN)[/B]
Actual: 3.4%
Previous: 3.9%
[B]? Public Finances (PSNCR) (JUN)[/B]
Actual: 10.3B
Previous: 6.0B (Revised)
[B]? Public Sector Net Borrowing (JUN)[/B]
Actual: 7.4B
Previous: 8.7B (Revised)
[B]? M4 Money Supply (MoM) (JUN P)[/B]
Actual: 0.8%
Previous: 1.3%
[B]? M4 Money Supply (YoY) (JUN P)
[/B]Actual: 13.0%
Previous: 13.9%
[B]? M4 Sterling Lending (GBP) (JUN P)[/B]
Actual: 5.1B
Previous: 26.6B (Revised)

See [I]Daily FX Weekly Calendar[/I] for further insight.