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Australian Retail Sales down by 0.1%

Thursday, Sep 03 2015
Retail Sales, in Australia, declined by 0.1%, missing the median market forecast for an increase of 0.4%. In June sales increased by 0.6%, revised down from 0.7% reported previously. It was the largest monthly decline in percentage terms since May 2014, and left the annual increase after seasonal adjustments at 4.2%, the lowest level since April. 
 
According to the ABS sales increased in clothing, footwear and personal accessory retailing (+2.9%), department stores (+1.3%) and cafes, restaurants and takeaway food services (+0.3%). Food retailing (0.0%) was relatively unchanged. There were falls in household goods retailing (-1.9%) and other retailing (-0.6%) following rises in both industries in June.
 
Separate report on Trade Balance, showed deficit of $2.46 billion, much better than the market forecast of a deficit of $3.1 billion. That’s $590 million lower than the July trade deficit. ABS said that in seasonally adjusted terms, goods and services credits rose $612m (2%) to $26,903m. On the other side of the trade balance they highlighted that goods and services debits rose $23m to $29,363m. 
 
After the data Aussie fell and is currently being traded few points above 0.70 handle. Pair is likely to find support around 0.6980 level and resistance above 0.7060 area. Later today, in the US session, Trade Balance and Unemployment Claims figures are scheduled for a release.
More in this category: « Private sector employment increased by 190,000 jobs Spanish and Italian services sector stable in August »

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