1/22/2021 12:33:08 AM GMT | By Ross J Burland
Australia December preliminary Retail Sales arrived at -4.2% MoMs/adj vs the Reuters poll -2.5%, which tipped the Aussie lower on the smaller time frames.
The data follows solid growth the previous month as consumers brought forward their Christmas shopping, Reuters noted. Falls were recorded in five of the six retail categories, led by household goods, department stores and clothing, the Australian Bureau of Statistics (ABS) reported.
Annual turnover was up 9.4%.
The ABS will release its final estimate on Feb 5.
AUD/USD technical analysis
The price is defying gravity (markets may prefer to see the revisions on next release) and taking on the daily resistance structure: