Australian retail sales strongest in more than 3 years

FXstreet.com (Barcelona) - A surprise came through retail sales, up +1.3% vs +0.3% expected, which is pushing the Aussie near 1.05 vs the US Dollar, with the data dashing even further any possibility for more rate cuts by the RBA down the road.

This is the strongest retail sales result in more than 3 years, suggesting the easing campaign is impacting the economy positively.

Australian building approvals for the month of February came on the positive side by +3.1% vs 2.4% expected, while on a yearly basis it stood at +12.8% y/y vs +14.3% expected.