A strong set of Australian data just released, with implications for a better economic growth data set due this week
AUD - Australia data: April retail sales 0.4% m/m (vs. expected +0.3%)
- watch out for better consumption data in the GDP (due Wednesday)
AUD - Australia data: Q1 Inventories 0.7% q/q (vs. expected 0.0%)
- expectations were low for this, this is a big beat
- feeds direct into the GDP data … a big plus indeed
AUD - Australia data: Q1 company profits 5.9% q/q (vs. expected +3.0%)
- welcome news for business
AUD likes it, adds a few points upon release of the data after a good finish to last week:
more to come
