The Australian Dollar appreciated against the US Dollar, as data revealed a solid increase in the country's retail sales in November. The currency pair rose 0.30% or 23 base points to proceed trading in the 0.7870 area.
Australia's retail sales marked the strongest monthly increase in four years last November, as consumers indulged themselves on Black Friday promotions and new Apple iPhones, providing the main boost to the country's economy, which was affected by sluggish spending before. The Australian Bureau of Statistics report revealed that retail sales grew 1.2% in November, following a 0.5% in the prior month. Back to October, consumer spending was pressured by sluggish pay growth and large household debt, which prevented the RBA from raising interest rates.
| Historical Data Table: Australian Retail Sales m/m | Economic Calendar for 11.01.2017 | ||||||||
| Date | 07.09.2017 | 05.10.2017 | 03.11.2017 | 05.12.2017 | 11.01.2018 | 1:30 PM | US PPI m/m | ||
| Actual | 0.0% | -0.6% | 0.0% | 0.5% | 1.2% | 1:30 PM | Canadain NHPI m/m | ||
| Forecast | 0.2% | 0.3% | 0.4% | 0.3% | 0.4% | 7:00 PM | US Federal Budget Balance | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| AUD/JPY | 87.397 | 87.661 | 0.30% | AUD/JPY | 25.76% | 74.24% | |||
| AUD/USD | 0.78418 | 0.78652 | 0.30% | AUD/USD | 47.50% | 52.50% | |||
| EUR/AUD | 1.52423 | 1.51934 | -0.32% | EUR/AUD | 29.84% | 70.16% | |||
| GBP/AUD | 1.72264 | 1.71735 | -0.31% | GBP/AUD | 72.86% | 27.14% | |||