Australia Q2 Company Gross Operating Profits -7.8%

Australia: Q2 Company profits of -7.8% qtr/qtr s/adj, is also worse than expected. Forecast was for a reading of -5%. Q2 company profits before income tax was up 5.4% qtr/qtr s/adj.

In other economic data, July Private sector credit was up 0.2% mth/mth s/adj. This was bang on forecast. Australia July Housing credit was up 0.6% mth/mth s/adj.

AUDUSD has been sold off a touch after these economic numbers.