The Commonwealth Bank of Australia (CBA) Business Sales indicator just released

  • for August 2018
  • its a measure of spending based on CBA terminals
  • +0.9% m/m in August (trend) above the long-term average monthly growth of 0.4% but slowest in 5 months
  • annual trend growth in sales rose to fresh 4-year highs of 11.4% (average is around 3.4%)

This is not an FX mover, and is not a focus much at all, but its a useful guide/ background on the economy

AUD not doing too much, the action is in the kiwi after the data there earlier

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The BSI covers spending broadly across the economy rather than just retail sales, including spending on automobiles, personal services and airlines.