Market Update – 16th May 2016 – U.S Data Shows Further Improvements Pushing AUD/USD Still Lower

  

U.S retail sales surged ahead Friday evening with the benchmark core retail sales figure beating estimates and coming in at 0.8% vs. the 0.6% predicted. Additionally core retail sales for the month previous was also revised higher while UoM consumer sentiment hit its highest point in a year and a half. The solid U.S economic data boosted the Greenback and saw AUD/USD fall by around half a percent through Friday evening.

Commodity prices were mixed and iron ore fell over the weekend as Chinese data released Saturday afternoon showed further falls across retail sales and industrial production, all failed to meet estimates.

A quiet session ahead with no data releases and bank holidays across Europe.

DATA RELEASES TODAY:

Nil

AUD EXCHANGE RATES:

AUD/USD – 0.7262

AUD/GBP – 0.5054

AUD/EUR – 0.6416

AUD/NZD – 1.0736

AUD/JPY – 78.822

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