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Australian Retail Sales May came in a touch better than expected, +16.9 pct MoM vs 16.3 pct expected and prior.

AUD/USD outlook

AUD/USD is unchanged on the data, travelling sideways into holiday thin market conditions. 

At the time of wiring, AUD/USD is flat on the session at 0.6926, easing from its highs of 0.6931.

  • AUD/USD Forecast: Dismal mood prevents Aussie from rallying

Meanwhile, the ASX 200 Index was trading 6032 pre-market and bid following Wall Street surging on a record payrolls jump. at the time of writing, The index is up 0.9% and has rallied from a low of 6087 to a high of 6110, the highest levels since the strat of June.

Description of the 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.