The Australian dollar sustained moderate losses before the release of retail spending and trade balance data.
Aussie settled at 92.46 US cents then it dived to 92.39 US cents. The official data reported retail spending went up slightly in February but missed analyst anticipations. Australian retail sales climbed 0.2% to $22.972 billion in February, said the Australian Bureau of Statistics.
The reading follows a 1.2% increase to $22.925 billion in January, as shoppers spent their money after Christmas. Retail sales were 2% higher in the March quarter to date.
Spending on household goods remained strong, while both food and department store spending decreased in February. Meanwhile, Australia’s trade surplus contracted in February as compared to a downwardly modified result last month, but performed better than analysts anticipated.
The material has been provided by InstaForex Company – www.instaforex.com
The Australian dollar sustained moderate losses before the release of retail spending and trade balance data.
Aussie settled at 92.46 US cents then it dived to 92.39 US cents. The official data reported retail spending went up slightly in February but missed analyst anticipations. Australian retail sales climbed 0.2% to $22.972 billion in February, said the Australian Bureau of Statistics.
The reading follows a 1.2% increase to $22.925 billion in January, as shoppers spent their money after Christmas. Retail sales were 2% higher in the March quarter to date.
Spending on household goods remained strong, while both food and department store spending decreased in February. Meanwhile, Australia’s trade surplus contracted in February as compared to a downwardly modified result last month, but performed better than analysts anticipated.
The material has been provided by InstaForex Company – www.instaforex.com
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