The Retail Sales released by the Australian Bureau of Statistics is out as follows:

• Australia Retail Sales MoM Jan: 1.9% (est 1.5%, prev -3.9%).
• Rose 7.5% compared with January 2022.

The Bureau said ''an additional information release on 7 March 2023 will see the inclusion of more detailed results for the January 2023 reference period. Additional timeseries spreadsheets will be published, including; state by industry results, state by industry sub-group results, quarterly turnover volumes, and online sales.''

AUD/USD update

AUD/USD has popped to a session high of 0.6750:

About the Retail Sales

The Retail Sales released by the Australian Bureau of Statistics is a survey of goods sold by retailers is based on a sampling of retail stores of different types and sizes and it''s considered as an indicator of the pace of the Australian economy. It shows the performance of the retail sector over the short and mid-term. Positive economic growth anticipates bullish trends for the AUD, while a low reading is seen as negative or bearish.