Australian Retail Sales unchanged in February

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Monday, Apr 04 2016

The trend estimate for Australian retail sales rose 0.2% in February 2016. This follows a rise of 0.2% in January 2016 and a rise of 0.3% in December 2015. The seasonally adjusted estimate was relatively unchanged (0.0%) in February 2016. Analysts were expecting 0.4% increase. This follows a rise of 0.3% in January 2016 and a relatively unchanged (0.0%) December 2015. In trend terms, Australian turnover rose 3.7% in February 2016 compared with February 2015.

Separate report on Building Approvals showed that in seasonally adjusted estimate for total dwellings approved rose 3.1% in February following a fall of 6.6% in the previous month. Private sector dwellings excluding houses rose 7.6% in February following a fall of 8.4% in the previous month, while private sector houses fell 1.2% in February and has fallen for two months.

Aussie is currently being traded around 0.7630 area. Pair is likely to find support around 0.7550 handle and resistance above 0.7680 level. There will be no major data releases later today.

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