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AUD/USD eventually reacts to weaker than expected sales data
Much earlier today the latest Australian retail sales data was below estimates. Sales there fell by 0.2%, where a modest rise was expected. That slight fall came after a previous monthly rise of 0.9%. Initially, the AUD/USD did not react negatively to the news and in fact, it lifted to a new rebound high at 0.6632. However, since then it has been tailing off and as the European markets get underway the Aussie is edging back towards the 0.66 handle. The AUD/USD had closed in the US last night at 0.6607. It is currently trading at 0.6612 and remains firm in relative terms based on the notion, that the next move from the RBA could deliver another interest rate hike
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