Aussie pre' Retail Sales: +0.6% MoM vs +2.0% exp, AUD steady

The Australian Retail Sales for January has been released, beating expectations by a large 0.4%, albeit subject to revision as this is the preliminary version.

• +0.6% MoM  vs +2.0% exp vs -4.1% prior.

AUD/USD is unchanged on the data. 

Description

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.