- Aussie Retail Sales: -0.6% vs -0.4% expected and -0.2% prior, AUD steady
Market news
Aussie Retail Sales: -0.6% vs -0.4% expected and -0.2% prior, AUD steady
The Retail Sales, QoQ Q1, released by the Australian Bureau of Statistics is out as follows:
- -0.6% vs -0.4% expected and -0.2% prior.
AUD/USD update
AUD/USD is resting in a support structure and could be headed higher while on the front side of the bullish trendline on the hourly chart.
A break of 0.6770 on the backside of the trendline, however, would be a bearish development.
About Retail Sales
The Retail Sales released by the Australian Bureau of Statistics is a survey of goods sold by retailers based on a sampling of retail stores of different types and sizes and it is considered an indicator of the pace of the Australian economy. The quarterly release shows the performance of the retail sector over the mid-term. Positive economic growth anticipates bullish trends for the AUD, while a low reading is seen as negative or bearish.
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