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The Retail Sales released by the Australian Bureau of Statistics has arrived as follows:

  •  +7.0% MoM.

AUD/USD update

The Australian dollar did not react to the news on the release, shedding just a couple of pips minutes afterwards from 0.7576 to a low of 0.7574.

More to come..

Description of Retail Sales

The Retail Sales released by the Australian Bureau of Statistics is a survey of goods sold by retailers is based on a sampling of retail stores of different types and sizes and it”s considered as an indicator of the pace of the Australian economy. It shows the performance of the retail sector over the short and mid-term. Positive economic growth anticipates bullish trends for the AUD, while a low reading is seen as negative or bearish.