Australia’s Preliminary Retail Sales rebound 16.3% in May, AUD/USD picks up bids

Australia's consumption, as represented by Retail Sales, rebounded sharply in the month of April, the Australian Bureau of Statistics (ABS) reported on Friday.

The retail sales arrived at +16.3% month-on-month (MoM), compared to the previous month's reading of -17.7%. 

more to come ...