Australia’s retail sales drop 0.1% in July, a big miss, Aussie breaches 0.6800

Australia's consumption, as represented by retail sales, dropped in the month of July, missing estimates by a big margin, the Australian Bureau of Statistics (ABS) reported on Tuesday. The retail sales arrived at -0.1% percent month-on-month, compared to the forecast of +0.2 percent and down from previous month's reading of +0.4 percent.