Australia's official May data continued today with Retail Sales. For the month (M/M) this arrived for May below expectations at 0.1% (exp 0.2%; previous -0.1%).
This is going to keep the rate cut buzz alive since the RBA tipped its hat to further cuts to come down the line if things do not improve. The RBA repeated that the œmain domestic uncertainty continues to be the outlook for consumption.
Looking back, as analysts at Westpac noted, "April produced a disappointing -0.1%mth decline, trimming annual growth to 2.8% (recall this series is in current prices). The details showed signs of further pressure from the slide in Sydney and Melbourne house prices, which should remain a factor in May. Westpac looks for a 0.1% uptick in May; consensus is 0.2%."
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.
Source : FXstreet
RELATED NEWS
U.S. Consumer Prices Trail Projections as Used-Car Costs Tumble
Thursday, 10 October 2019 20:04 WIBA key measure of U.S. consumer prices rose by less than expected in September as used-car costs fell by the most in a year, likely bolstering the case for the Federal Reserve to cut interest rates for the third time in three months. The core consumer price index, which excludes food and e...
UK GDP Contracts 0.1% m/m in August, Misses Estimates
Thursday, 10 October 2019 15:59 WIBThe UK GDP monthly release showed 0.1% contraction in August versus 0.0% expected and +0.4% previous. Meanwhile, Index of services (August) arrived at +0.4% 3m/3m vs. +0.1% expected and +0.3% last. The Gross Domestic Product released by the National Statistics is a measure of the total value of al...
U.S. Payrolls Miss Estimates as Wages Cool in Sign of Downshift
Friday, 4 October 2019 19:46 WIBU.S. private hiring was less than forecast in September as wage gains cooled, offering a warning that the record-long expansion may be starting to falter even as the jobless rate fell to a half-century low. Private payrolls expanded by 114,000 after an upwardly revised 122,000 advance the...
Service side of economy grows at slowest pace in 3 years
Thursday, 3 October 2019 21:31 WIBService-oriented companies that employ the vast majority of Americans registered the weakest growth in September in three years, adding to a cacaphony of reports showing a broad slowdown in the U.S. economy. The Institute for Supply Management's said its non-manufacturing index fell to 52.6 last mo...
U.S. Private Sector Adds 135,000 Jobs in September
Wednesday, 2 October 2019 19:29 WIBU.S. private sector hiring slowed more than expected in September a report by a payrolls processor ADP showed Wednesday. Private sector payrolls increased by 135,000, vs 140,000 forecast, prior month revised down to 157,000 from 195,000. Data a day earlier pointing to a shock drop in U.S. factory ...
Hong Kong Stocks Rally More Than 2% on Trade Hopes (Review)
Dollar Falls to Three-Month Low on Hopes of Brexit, U.S.-China Trade Deals
Dow Ends With More Than 300-Point Gain on Report of U.S.-China 'Phase One' Trade Agreement
Gold futures fall for the session, lose 1.6% for the week
European stocks close sharply higher on rising trade and Brexit optimism
Stocks on Course to Snap Three-Day Winning Streak After U.S.-China Deal Comes Under Doubt
Monday, 14 October 2019 21:12 WIB
U.S. stocks fell slightly at the opening bell on Monday after reports suggested the trade deal struck between U.S. and Chinese negotiators last week had yet to be finalized.
The S&P 500 was down less than 0.1% to 2,969. The Dow Jones...