AUD Retail Sales Data A Big Dissapointment!
AUD Retail sales data today came in well below expected, at -1.1% actual v 0.4% consensus (-1.71% deviation).
Yesterday the AUD unemployment rate data came in far stronger than expected, with the actual at 5.8% v 6.3% consensus. The RBA ‘JobKeeper’ fiscal stimulus is set to end in the coming weeks, so the ongoing economic data will prove critical to the RBA’s policy making.
The AUD is down following the data, with the AUDUSD now trading below the 0.78 mark again, at 0.774 now.