The Australian Dollar was supported by the statistics. Overview for 11.01.2018

11.01.2018

The AUD/USD pair is rising on Thursday morning thanks to the Australian Retail Sales report.

On Thursday, the Australian Dollar is regaining positions against the USD. The current quote for the instrument is 0.7872.

This morning, they published some pretty impressive numbers on the Australian Retail Sales in November 2017. The indicator added 1.2% m/m after expanding by just 0.5% m/m the month before and against the expected reading of +0.4% m/m.

Cafes, restaurants and takeaway food added 0.4% m/m; clothing, footwear and personal accessories – 0.2% m/m, the same as food products.

The Retail Sales often provides the best picture of what is going on in the country’s economy. The better the numbers, the more optimistic the economic outlook. In this light, the Aussie is growing quite well today.

In general, the current recovery is probably local, because earlier the AUD/USD pair was really oversold.

 

RoboForex Analytical Department

 

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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.