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Australian Retail Sales rose 0.3% in January

The trend estimate rose 0.3% in January 2016. This follows a rise of 0.3% in December 2015 and a rise of 0.3% in November 2015. The seasonally adjusted estimate rose 0.3% in January 2016. Analysts were forecasting 0.4% rise. This follows a relatively unchanged December 2015 (0.0%) and a rise of 0.4% in November 2015. In trend terms, Australian turnover rose 4.0% in January 2016 compared with January 2015. Read more...

Westpac Consumer Sentiment fell by 6.9%

A measure of Australian consumer sentiment dived in June to entirely reverse the previous month's promising increase, a blow to hopes for a much-needed upturn in household spending. The survey of 1,200 people by the Melbourne Institute and Westpac Bank showed its index of consumer sentiment slid a seasonally adjusted 6.9% in June.The index reading of 95.3 was 2.3% higher than in June 2014, but the weakest since the start of this year.

Gold prices rebounded at the beginning of the week

Gold prices added a few dollars in the Asian session as buyers bought up the cheap commodity pushing it up $5.40 to trade at 1173.50 after gold tumbled last week and remains without support. The metal had fallen to $1,162.35 on Friday, its lowest since March 19, after data showed US job growth accelerated sharply in May and wages picked up. The report, indicating signs of strong momentum in the US economy, bolstered expectations the Federal Reserve will begin to raise rates in September and sent the dollar rallying to a 13-year peak against the yen.  Read more...

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