AUD/USD flows: More support for Chinese property sector

Shanghai has announced property sector support measures by cutting payment requirement and lowering rates, to further support the local Chinese property market. Regional sentiment in China and Hong Kong are positive and lends support to the Aussie. The Australian Retail Sales for April also came in slightly lower than estimate, but reverted the contraction of March, at 0.1% m/m. The domestic demand is forecasted to be soft for longer and any growth should be appreciated.

AUD/USD is trading 0.22% higher at 0.6668.