Retail sales in Australia expanded in September at a growth of 1.2%, beating estimates of 0.3% and August`s dismal 0.1%.
Trade balance in September was once again a deficit, this time at $ 1 850 million, a $ 50 million rise from August.
In the RBA statement today, it was highlighted that the Australian dollar while weaken is still trading higher than its fundamental value. The cash rate remained unchanged at 2.5%.
With the decent third quarter GDP from US, the AUD/USD pair long term should be a short position.
No comments:
Post a Comment