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Australian Dollar Gets Boost from Retail Sales

June 4, 2018 at 12:53 by Vladimir Vyun

General Sir John Monash on Australian 100-dollar billThe Australian dollar rose sharply today. Analysts explained the rally by a better-than-expected retail sales report.

The Australian Bureau of Statistics reported that retail sales increased 0.4% in April from March. That is compared to the predicted increase of 0.3% and the no-change reading registered in March.

This week will be eventful for the Aussie, with the Reserve Bank of Australia policy meeting and several important macroeconomic reports.

AUD/USD climbed from 0.7559 to 0.7656 as of 12:46 GMT today, trading near the highest level since April 23. EUR/AUD slumped from 1.5404 to 1.5308, near the lowest since January 30.

If you have any questions, comments, or opinions regarding the Australian Dollar, feel free to post them using the commentary form below.

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