Retail sales on the road to nowhere...

A weak result for the month of June, with retail sales failing to show growth for the month of the quarter on a seasonally adjusted basis.

Although there are whispers that July and August may show a better result, weak retail sales in June missed expectations and should temper optimism about the GDP result for June.

Aussie dollar sank to a new low of 88.49 cents earlier, the weakening of the currency continuing to be great news.

Shares were flat. 

Stand by for an interest rate cut.

Graph: Monthly Turnover, Current Prices, Trend Estimate

Source: ABS

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