|

Australian June Retail Sales hold steady at 0.4%, just beating forecasts

June's seasonally-adjusted Retail Sales for Australia came in at 0.4%, holding steady with the previous month's reading and ticking just above the broader market's expectations of a slowdown to 0.3%. 

June key points (via ABS)

"Food retailing (0.4 per cent) led the rises," said Ben James, Director of Quarterly Economy Wide Surveys. "Clothing, footwear and personal accessories rose 1.7 per cent, following a 2.3 per cent rise in May." 

There were also rises for cafes, restaurants and takeaways (0.9 per cent) and household goods (0.4 per cent). Other retailing (0.0 per cent) was relatively unchanged, whilst department stores (-1.2 per cent) fell in June 2018. 

For the June quarter 2018, there was a 1.2 per cent rise in seasonally adjusted volume terms. This follows a rise of 0.2 per cent in the March quarter 2018. The quarterly rise in volumes was led by food (1.6 per cent), household goods (1.4 per cent) and clothing, footwear and personal accessories (2.0 per cent). By state, New South Wales (1.7 per cent) and Victoria (1.7 per cent) led the rises. 

Online retail turnover contributed 5.7 per cent of total retail turnover in original terms in June 2018, a rise from 5.6 per cent in May 2018. In June 2017 online retail turnover contributed 4.1 per cent to total retail.

Author

Joshua Gibson

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

More from Joshua Gibson
Share:

Editor's Picks

EUR/USD keeps the rangebound trade near 1.1850

EUR/USD is still under pressure, drifting back towards the 1.1850 area as Monday’s session draws to a close. The modest decline in spot comes as the US Dollar picks up a bit of support, while thin liquidity and muted volatility, thanks to the US market holiday, are exaggerating price swings and keeping trading conditions choppy.
 

GBP/USD trades with negative bias, eyes 1.3600 ahead of UK jobs data

The GBP/USD pair trades with a negative bias for the second straight day, though it lacks bearish conviction and holds above the 1.3600 mark through the Asian session on Tuesday. Traders now look forward to the release of the UK monthly jobs report, which will influence the British Pound and provide some impetus to the currency pair.

Gold sticks to a negative bias below $5,000; lacks bearish conviction

Gold remains depressed for the second consecutive day and trades below the $5,000 psychological mark during the Asian session on Tuesday, as a positive risk tone is seen undermining safe-haven assets. Meanwhile, bets for more interest rate cuts by the Fed keep a lid on the recent US Dollar bounce and act as a tailwind for the non-yielding bullion, warranting caution for bearish traders ahead of FOMC minutes on Wednesday.

AI Crypto Update: Bittensor eyes breakout as AI tokens falter 

The artificial intelligence (AI) cryptocurrency segment is witnessing heightened volatility, with top tokens such as Near Protocol (NEAR) struggling to gain traction amid the persistent decline in January and February.

US CPI is cooling but what about inflation?

The January CPI data give the impression that the Federal Reserve is finally winning the war against inflation. Not only was the data cooler than expected, but it’s also beginning to edge close to the mystical 2 percent target. CBS News called it “the best inflation news we've had in months.”

XRP steadies in narrow range as fund inflows, futures interest rise

Ripple is trading in a narrow range between $1.45 (immediate support) and $1.50 (resistance) at the time of writing on Monday. The remittance token extended its recovery last week, peaking at $1.67 on Sunday from the weekly open at $1.43.