Australian Bureau of Statistics this morning (4/11) reported a decrease in the trade deficit better than expected and retail sales data in line with expectations. The Australian dollar also strengthened against currencies-currencies, while the market is still looking forward to the release of nonfarm payrolls on Friday.
Australia's trade balance deficit narrowed from 2.7 billion in August to 2:32 billion Australian dollar in September. The achievement exceeded the consensus estimate, in line with the growth rate of exports exceeded imports. This deficit is also the lowest in the past seven months, thus raising hopes remain smooth foreign trade in Australia and its main trading partner countries, China, is experiencing an economic slowdown.
Retail sales in the land of kangaroos for the period of September increased by 0.4 percent (MoM), together with the acquisition of the previous month. Sales of household goods, clothing, footwear, and accessories increased, as well as cafes, restaurants, and fast food providers. This increase is offset the drastic decline experienced by department store sales. Positive retail sales numbers is a sign of domestic demand conditions are prime.
AUD / USD soared to 0.7205, while AUD / JPY jumped to 87.40, respectively reached its highest level in about a week.
AUD / USD tends to strengthen in recent days, although the Aussie was hit by the Chinese PMI data at the beginning of Monday's Asian session. Reserve Bank of Australia's decision to leave interest rates remain at 2 per cent support the optimism of market participants. On the other hand, investors are still warn, warn dealing with the US Dollar ahead of the release of Nonfarm Payrolls figures this weekend.
Australia's trade balance deficit narrowed from 2.7 billion in August to 2:32 billion Australian dollar in September. The achievement exceeded the consensus estimate, in line with the growth rate of exports exceeded imports. This deficit is also the lowest in the past seven months, thus raising hopes remain smooth foreign trade in Australia and its main trading partner countries, China, is experiencing an economic slowdown.
Retail sales in the land of kangaroos for the period of September increased by 0.4 percent (MoM), together with the acquisition of the previous month. Sales of household goods, clothing, footwear, and accessories increased, as well as cafes, restaurants, and fast food providers. This increase is offset the drastic decline experienced by department store sales. Positive retail sales numbers is a sign of domestic demand conditions are prime.
AUD / USD soared to 0.7205, while AUD / JPY jumped to 87.40, respectively reached its highest level in about a week.
AUD / USD tends to strengthen in recent days, although the Aussie was hit by the Chinese PMI data at the beginning of Monday's Asian session. Reserve Bank of Australia's decision to leave interest rates remain at 2 per cent support the optimism of market participants. On the other hand, investors are still warn, warn dealing with the US Dollar ahead of the release of Nonfarm Payrolls figures this weekend.
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