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Australian retail sales fall unexpectedly in June

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Forexpros - Retail sales in Australia fell unexpectedly in June, declining for the second consecutive month, official data showed on Wednesday.

In a report, the Australian Bureau of Statistics said that Australian retail sales fell by a seasonally adjusted 0.1% in June, after declining by 0.6% in May.

Analysts had expected Australian retail sales to rise 0.4% in June.

Year-over-year, Australian retail sales rose at an annualized rate of 1.7%, after climbing at a rate of 2.4% in the previous month.

Following the release of the data, the Australian dollar was down against its U.S. counterpart, with AUD/USD slumping 0.51% to trade at 1.0724.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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