AUD,NZD

Australian November retail sales -0.1% MoM Versus +0.4% expected

The AUD/USD tried to test 1.0520 before the number but the bulls were swiftly rebuffed when the data disappointed at -0.1% MoM. This will keep any lingering hopes of a February rate cut still alive. I’d continue to play the range, 1.0465/1.0525, with a mild bearish bias after disappointing economic data in the last 2 days.

Leave a Reply

Your email address will not be published. Required fields are marked *