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In the view of the analysts at TD Securities (TDS), the UK Retail Sales are expected to extend the rise in July. The data will be published later today at 0830 GMT.

Key Quotes:

“We look for retail sales to rise another 0.3% m/m in July (mkt -0.2%), adding to the 0.9% gain in June.

While the economy has slowed due to Brexit uncertainty, consumer spending doesn’t seem to be the problem with very low unemployment and solid wage growth.

Plus the weaker currency should support retail spending by tourists in the summer months. So we think that retail sales should hold up well for now.”