AUD/USD extends bounce off multi-day low towards 0.6800 on upbeat Australia Retail Sales – by anilpanchal7 AUDUSD Macroeconomics RBA Fed China
That said, Australia’s seasonally adjusted Retail Sales rose 1.9% MoM versus 1.5% market forecasts and -3.9% previous readings, which in turn allowed the Aussie pair to refresh intraday high near 0.6750.
That said, the US offers an olive branch to China companies despite its political differences with the dragon nation and hence allows the S&P 500 Futures to track Wall Street’s gains by the press time. It’s worth noting that piece from Bloomberg cited risks of Australia recession by saying, “Reserve Bank of Australia chief Philip Lowe’s expectation of further interest-rate rises ahead has prompted economists and money markets to narrow the odds of a recession in the $1.5 trillion economy.”
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