Consumer spending in Australia, represented by, Retail Sales, dropped 0.8\ % in June over the month, compared with the 0% expected and May’s 0.7% increase, according to the latest data published by the Australian Bureau of Statistics (ABS).

Separately, the Stats agency reported the country’s Producer Price Index (PPI) for Q2, which rose 0.5% QoQ vs. 0.9% expected and 1.0% previous.

On an annual basis, Australia’s PPI inflation eased to 3.9% in the second quarter, as against a clip of 5.2% seen in Q1 while matching the market consensus of 3.9%.

Market reaction

AUD/USD dropped to hit intraday lows at 0.6686 before rebounding to near 0..6705, where it now wavers. The spot is down 0.05% on the day.