Australian Trade Balance unchanged in December

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Friday, Feb 05 2016

The latest Australian Bureau of Statistics (ABS) Retail Trade figures show that Australian retail turnover was relatively unchanged in December 2015, missing forecasts on 0.5% increase and following a rise of 0.4% in November 2015, seasonally adjusted. In seasonally adjusted terms there were rises in food retailing clothing, footwear and personal accessory retailing and department stores. Household goods retailing, other retailing and cafes, restaurants and takeaway food services fell in December 2015.

The fall in household goods retailing was the largest of any industry in December. This fall follows large rises in recent months which have contributed significantly to stronger rises in total retail turnover. Despite the fall in December this industry maintains the strongest growth rate of any industry compared to this time last year, rising 6.3 per cent compared to December 2014.

Aussie is currently being traded around 0.7180 area. Pair is likely to find support around 0.71 handle and resistance above 0.7250 level. Later today, in the US session, NFP and Trade Balance figures are scheduled for a release.

More in this category: « Unemployment Claims increased to 285,000, German Factory Orders down by 0.7% »

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