Australian Retail Sales up by 0.7%

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Tuesday, Aug 04 2015

Retail Sales in Australia rose 0.7% in June 2015. This follows a rise of 0.4% in May 2015 and a relatively unchanged April 2015 (0.0%). Analysts were anticipating smaller increase by 0.5%. The following industries rose in trend terms in June 2015: Household goods retailing (0.8%), Food retailing (0.2%), Other retailing (0.4%), Cafes, restaurants and takeaway food services (0.3%) and Clothing, footwear and personal accessory retailing (0.1%). Department stores (-0.2%) fell in trend terms in June 2015.

Separate report on Trade Balance also beat market forecasts on incline in deficit to $3.06 billion. The balance on goods and services was a deficit of $2,933m in June 2015, an increase of $256m (10%) on the deficit in May 2015. Goods and services credits rose $830m (3%) to $26,348m, while goods and services debits rose $1,086m (4%) to $29,281m.

After the data Aussie was pushed higher and is currently being traded around 0.7350 level. Pair is likely to find support at 0.73 handle and resistance above 0.7380 area. There will be no major data releases in the rest of the session.

More in this category: « US PMI at a three-month low RBA kept interest rates unchanged »

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