The Australian Dollar has been growing for the second day in a row. Overview for 04.07.2018
AUDUSD continues recovering; the statistics provides support.
On Wednesday morning, the Australian Dollar is still rising against the USD. The current quote for the instrument is 0.7401.
Today’s statistics showed that the Retail Sales in Australia added 0.4% m/m in May after expanding by 0.5% m/m the month before and against the expected reading of +0.3% m/m.
The components of the report show the major contribution was made by food retailing (+0.4%) and sales in department stores (+0.5%). sales of clothing, footwear, personal accessories increased insignificantly (+0.1%) as well as sales in cafes, restaurants and takeaways, which is probably due to the seasonal and weather factors.
Another report, the Balance of Trade, was A$0.83B in May against the expected reading of A$1.2B. Despite the fact that the actual reading was better than in April, A$0.47B, it’s still not very good.
The components of the report indicate that the Export added 4% m/m after losing 2% m/m in April. The Import expanded by 3% m/m in May after adding just 0.1% m/m the month before.
In general, the numbers were rather positive and supported the Aussie.
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