-
Retail turnover down 1.1% in February
Australian retail turnover fell 1.1 per cent in February 2021, seasonally adjusted, according to preliminary retail trade figures released today by the Australian Bureau of Statistics (ABS). Turnover rose 8.7 per cent when compared to February 2020. Ben James, Director of Quarterly Economy Wide Surveys, said: "Restrictions due to COVID-19 in Victoria, and parts of Western Australia, drove the February fall. Victoria fell 4 per cent, and Western Australia fell 6 per cent, as trade was restricted for five days in each state. The falls were partially offset by rises in New South Wales and Queensland. Both these ... (full story)
-
AUD/USD extends losses towards 0.7700 on downbeat Australia Retail Sales
AUD/USD stands on a slippery ground while refreshing the intraday low with 0.7740, down 0.23% on a day, after Aussie data disappointed traders during early Friday. Not only the preliminary readings of Australia’s Retail Sales for February but the US-China tussles and reflation fears also weigh on the quote even as the US Treasury yields ease from the multi-month top. The first reading of Australia’s Retail Sales dropped way below 0.5% prior and 0.4% market consensus to -1.1% MoM during the latest announcement. The data adds to the AUD/USD weakness amid geopolitical fears emanating from China and North Korea. Not ... (full story)