Aussie Retail Sales big beat vs expected by 0.6%, lower than prior

The first set of data for April Retails sales in Australia has been released as follows, but it is subject to variation on the final read:

Australian Retail Sales MoM April P: 1.1% (exp 0.5%; prev 1.3%).

AUD/USD hs note reacted to the preliminary reading. 

More to come...

About Retail Sales

The Retail Sales released by the Australian Bureau of Statistics is a survey of goods sold by retailers is based on a sampling of retail stores of different types and sizes and it''s considered as an indicator of the pace of the Australian economy. It shows the performance of the retail sector over the short and mid-term. Positive economic growth anticipates bullish trends for the AUD, while a low reading is seen as negative or bearish.