Australia’s Retail Sales climb 0.5% MoM in June vs. 0.2% expected

Australia’s Retail Sales, a measure of the country’s consumer spending, rose 0.5% MoM in June after increasing by 0.6% in May, the official data published by the Australian Bureau of Statistics (ABS) showed on Wednesday.

The reading came in above the market expectations of a 0.2% growth.

Market reaction to Australia’s Retail Sales data

At the time of writing, the AUD/USD pair is down 0.74% on the day at 0.6435, mainly dragged by softer-than-expected RBA Trimmed Mean Consumer Price Index (CPI) data.