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Australian company profits sank 2.8% in Q4

Monday, Feb 29 2016
The seasonally adjusted estimate for company gross operating profits fell 2.8% in the December quarter 2015. Analysts were expecting 1.7% decrease. The seasonally adjusted estimate for wages and salaries rose 0.5% in the December quarter 2015.
 The trend estimate for inventories fell 0.1% in the December quarter 2015. The seasonally adjusted estimate fell 0.4% this quarter. The trend estimate for Manufacturing sales of goods and service fell 1.1% this quarter. The seasonally adjusted estimate fell 2.0% this quarter. The trend estimate for Wholesale trade sales of goods and services rose 0.5% this quarter. The seasonally adjusted estimate rose 1.6%.
 
Aussie is currently being traded around 0.7130 area. Pair is likely to find support around 0.7080 handle and resistance above 0.71o0 level. Later today, in the US session, Chicago PMI and Pending Home Sales figures are scheduled for a release.
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