The final estimate of July Retail Sales, with the 3.3% preliminary reading that had been expected to be confirmed, up from 2.7% in June has arrived as follows:
- +3.2 pct MoM s/adj vs Reuters poll +3.3 pct.
AUD updates
AUD/USD held steady on the data
RBA: Rate cut expected by February – Deutsche Bank
AUD/JPY Price Analysis: Sellers eye three-month-old support line
The description of 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.
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