[ANNOUNCE] The Aussie weakened against the Greenback after the release of January Australian retail sales data. The report caused a 0.10%, or 8 pips, drop in the pair, making it fall to the 0.7772 level and then continue fluctuating in the 0.7785 area. [/ANNOUNCE]
The Australian Bureau of Statistics revealed that the country's retail sales contribution to the overall consumption faded more than anticipated in the reported month, following a decreased growth rate in the prior month.
The report revealed that retailers of brick-and-mortar stores, even by relentlessly competing with each other's sales prices, are powerless in enticing customers to increase their shopping basket due to the unsignificant wage growth and a considerable amount of debt.
| Historical Data Table: Australia's Retail Sales m/m | Economic Calendar for 07.03.2018 | ||||||||
| Date | 03.11.2017 | 05.12.2017 | 11.01.2018 | 06.02.2018 | 06.03.2018 | 12:30 AM | AUD GDP q/q | ||
| Actual | 0.00% | 0.50% | 1.20% | -0.50% | 0.10% | 3:00 PM | CAD BOC Rate Statement | ||
| Forecast | 0.40% | 0.30% | 0.40% | -0.20% | 0.40% | 3:30 PM | US Crude Oil Inventories | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| AUD/JPY | 82.752 | 82.676 | -0.09% | AUD/JPY | 71.31% | 28.69% | |||
| AUD/USD | 0.77805 | 0.77725 | -0.10% | AUD/USD | 62.58% | 37.42% | |||
| EUR/AUD | 1.58729 | 1.5887 | 0.09% | EUR/AUD | 25.80% | 74.20% | |||
| GBP/AUD | 1.7815 | 1.7828 | 0.07% | GBP/AUD | 58.87% | 41.13% | |||