Australian Q1 Retail sales -0.4% q/q vs. -0.2% expected

more to come

Australian Q1 Retail sales -0.4% q/q

• vs. -0.2% expected and +0.3% prior

The sustained high cash rate and cost of living pressures are weighing on Australian spending.

Despite the RBA holding the cash rate high, inflation is showing a tendency to be sticky above the target rate.

The RBA meet today (announcement due at 2.30 pm Sydney time, 0430 GMT, 0030 US Eastern time) and on hold is expected, with a hawkish tilt. There is no respite for Oz in sight yet.

• Reserve Bank of Australia preview – more hawkish

(More previews at that link)

This article was written by Eamonn Sheridan at www.forexlive.com.