Australia June Retail sales -1.4% s/adj, AUDUSD flies

Australian June retail sale has come in well below expectations at -1.4%. Forecast was for a rise of 0.5%. However Q2 Chain Volume Retail Sales came in better than expected, +2%. Forecast there was for a rise of 1.3%.

AUDUSD initially dipped 5 pips after the June number, but reversed and quickly shot up above 8460 once all the data was revealed. Stops above 8450 were triggered in the process.