Other data showed that building approvals -3.3% MoM against expectations of a 2% rise and that private sector credit increased more or less as expected by 0.4%.
The short term AUD/USD market had gotten itself long in the expectation on a good retail sales number and they will probably now be selling out but I don’t think this data will carry much weight with the RBA next Tuesday; it’s the housing market its’ more worried about.
