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6 May 2013
Australia March retail sales below expectations
FXstreet.com (Barcelona) - Australia March retail sales came below expectations at -0.4% vs expectation of +0.2%. The immediate reaction of the Aussie was to sell-off over 30 pips, an average drop that Westpac has anticipated earlier on the day.
Meanwhile, on a quarterly basis, real retail sales were up +2.2% in the first quarter, which in view of Stephen Koukoulas, Managing Director of Market Economics, is "a nice start to Q1 GDP."
According to Eamonn Sheridan from Forexlive: "Any result below expectations AUD negative. I’d be more wary of downside surprises, AUD/USD has been offered so far today and the downside is the danger side."
Australia April ANZ job advertisement came at -1.3% vs. -0.5% prior. "No brainer tomorrow for rate cut" adds Mr. Koukoulas.
Meanwhile, on a quarterly basis, real retail sales were up +2.2% in the first quarter, which in view of Stephen Koukoulas, Managing Director of Market Economics, is "a nice start to Q1 GDP."
According to Eamonn Sheridan from Forexlive: "Any result below expectations AUD negative. I’d be more wary of downside surprises, AUD/USD has been offered so far today and the downside is the danger side."
Australia April ANZ job advertisement came at -1.3% vs. -0.5% prior. "No brainer tomorrow for rate cut" adds Mr. Koukoulas.