Published: 2024-01-09T06:06:02.000Z
AUD/USD flows: Strong Retail Sales Spike Reversed
FX Analyst
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Australian November Retail Sales +2.0% m/m (expected +1.2%)
The Australian Retail Sales came in much stronger than expected in November and seems to suggest domestic demand stays strong for Australia despite household saving closer to zero percent. Seasonal adjustment for new Black Friday Sales may have played around the numbers but the volume of 36.5bn AUD says the retail sales report is a good one.
AUD/USD initially spiked to session high of 0.6734 before trading 0.18% lower now at 0.6707 as regional equities erased the early rebound.