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May 27 - 10:55 PM

AUD/USD - Edges Higher Despite Retail Sales Missing Forecasts

By Krishna K  —  May 27 - 10:05 PM
  • AUD/USD up 0.15% in Asia, takes miss in April retail sales in stride

  • Australia April retail sales rise 0.1% after falling 0.4% in March

  • A 0.2% rise was expected; data points to consumers remaining cautious

  • High borrowing costs and rising rents dent spending capacity of consumers

  • Unlikely to influence RBA rate expectations a great deal; AU CPI Wed key

  • A higher 0.6550-0.6750 range forms as Fed, RBA reiterate status quo on rates

  • Support 0.6625-30, 0.6600-05, resistance 0.6665-70, 0.6695-00

  • Asia range 0.6654-0.66655

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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