Australia's Retail Sales drop 0.3% in Jan, surprise negatively – AUD/USD off the highs
Friday, 6 March 2020 07:56 WIB | ECONOMY |Ekonomi AustraliaRetail Sales

Australia's consumption, as represented by Retail Sales, unexpectedly dropped in the month of January, the Australian Bureau of Statistics (ABS) reported on Friday.

The retail sales arrived at -0.3% month-on-month (MoM), compared to the forecast of 0.0% and down from previous month's reading of -0.5%.

The trend estimate rose 0.1% in January 2020. This follows a rise of 0.1% in December 2019, and a rise of 0.2% in November 2019.

The seasonally adjusted estimate fell 0.3% in January 2020. This follows a fall of 0.7% in December 2019, and a rise of 1.0% in November 2019.

In trend terms, Australian turnover rose 2.3% in January 2020 compared with January 2019.

AUD/USD drops over 10-pips from daily highs of 0.6624 on a negative surprise on the Australian Retail Sales data. The spot manages to hold above the 0.66 handle amid risk reset following a coronavirus-led blood bath in the US markets.

Source : FXStreet

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