Australian March retail sales in unexpected decline

ABS data showed retail sales fell 0.4% in March from February, helped by spending associated with sold-out Taylor Swift concerts. — Reuters

SYDNEY: Australian retail sales fell unexpectedly in March as cautious consumers pulled back spending amid elevated costs of living, while the growth in annual sales slowed to the lowest in more than two years.

The Australian dollar slipped 0.2% to A$0.6551 after the data while three-year bond futures extended earlier gains to be up six ticks to 95.96.