Australia’s Retail Sales, a measure of the country’s consumer spending, rose 0.2% QoQ in the third quarter (Q3) from the previous reading of a 0.6% drop, according to the official data published by the Australian Bureau of Statistics (ABS) on Friday.

Market reaction

At the press time, the AUD/USD pair is down 0.14% on the day to trade at 0.6424.

About Australia's 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.