Market Update – 5th July 2018 – AUD Steady Thanks To Better Retail Sales Figures

Local retail sales figures released yesterday surprised to the upside with the official figure coming in at 0.4% instead of the forecast 0.3%. The Aussie dollar moved initially higher on the more positive retail sales figure reaching 0.7424 immediately following the economic data before retreating back to its starting point around the high 0.73’s. Retailers would have breathed a sigh of relief yesterday with the economic data suggesting that consumers haven’t completely retreated to the internet for their consumer goods and that retailers may yet make a comeback after a tough period.

The Aussie dollar is more or less unchanged since yesterday, however U.S preliminary job numbers tonight along with ISM non-manufacturing PMI could provide some further headwinds for AUD.

AUD EXCHANGE RATES:

AUD/USD – 0.7383

AUD/GBP – 0.5579

AUD/EUR – 0.6331

AUD/NZD – 1.0915

AUD/JPY – 81.567

USD/BTC – $6,655

OTHER MARKETS: 

All Ords (XAO) – 6,273

Gold – A$1,701/oz

Silver –  A$21.78/oz

WTI – US$72.78/barrel

DATA RELEASES TODAY:

USD – ADP Non-Farm Employment Change at 10.15pm

USD – ISM Non-Manufacturing PMI at midnight

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Patrick Downes

Senior Corporate FX Dealer

Phone Patrick – 0431 278 632 

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