Aussie Retail Sales beats and sends AUD/USD bit to test 0.6750

The Retail Sales released by the Australian Bureau of Statistics is out as follows:

• Australia Retail Sales MoM Jan: 1.9% (est 1.5%, prev -3.9%).

AUD/USD update

AUD/USD has popped to a session high of 0.6750.

About the Retail Sales

The Retail Sales released by the Australian Bureau of Statistics is a survey of goods sold by retailers is based on a sampling of retail stores of different types and sizes and it''s considered as an indicator of the pace of the Australian economy. It shows the performance of the retail sector over the short and mid-term. Positive economic growth anticipates bullish trends for the AUD, while a low reading is seen as negative or bearish.