The ABS has released its first batch of partial data that will comprise Australia’s Q2 GDP (to be released Wednesday), which was a mixed bag:
Sales of goods and services (manufacturing and wholesale trade) fell, whereas inventories, company profits and wages & salaries each posted decent rises.
The market clearly was unimpressed, sending the AUD to the lowest level since January 2017; albeit the weak retail trade data also contributed:
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Tomorrow we get the current account, terms-of-trade data, and government financial data.
