Australia data - March Retail Sales +0.4% m/m (expected 0.2%)

Australia data for March 2023 Retail Sales +0.4% m/m

• expected 0.2%, prior 0.2%
• third straight rise in March
• Australian Bureau of Statistics says: “Food retailing has now recorded 13 consecutive monthly rises, largely driven by high food inflation ...
• Spending on non-food retailing has slowed in response to interest rate rises and increased cost of living pressures."
• the Australian Bureau of Statistics also notes a "pull-back in spending on discretionary goods has seen monthly turnover remain at a similar level to six months ago"

For the y/y +5.4%

AUD is doing very little:

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aud AUD The Australian dollar (AUD) is the official currency of Australia, which is also used in Christmas Island, Cocos (Keeling) Islands, Norfolk Island, as well as independent pacific states.Introduced in 1966, the AUD is currently the fifth most traded currency in the world, behind only the US dollar, euro, Japanese yen, and British pound.The currency is very important to forex markets and is routinely used as a carry trade against other majors.The Reserve Bank of Australia (RBA) is the central bank The Australian dollar (AUD) is the official currency of Australia, which is also used in Christmas Island, Cocos (Keeling) Islands, Norfolk Island, as well as independent pacific states.Introduced in 1966, the AUD is currently the fifth most traded currency in the world, behind only the US dollar, euro, Japanese yen, and British pound.The currency is very important to forex markets and is routinely used as a carry trade against other majors.The Reserve Bank of Australia (RBA) is the central bank Read this Term