Consumption in Australia, represented by retail sales, fell less than expected in September, the Australian Bureau of Statistics (ABS) reported on Wednesday.
Retail sales were at -1.1% MoM, compared to the prior month’s reading of -1.5%, which was also today’s forecast.
The Australian retail sales excluding inflation for the third quarter it stands at + 6.5% quarter-on-quarter compared to the 6.0% forecast and -3.4% previously.
Market reaction
The Australian dollar ignored the upbeat Australian data as AUD / USD extends the slide below 0.7200 amid a broad return in the US dollar as the results of the Florida election show a headline in favor of President Trump.
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Credits: Forex Street
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