Australian Retail Sales Help Aussie to Gain on Rivals

The Australian dollar rose against its most-traded rivals (with the exception of the Japanese yen) today as Australia’s retail sales beat expectations.

Seasonally adjusted retail sales were up 0.5% in October from September. While the pace of growth was somewhat slower than September’s 0.6%, it was faster than the analysts’ prediction of 0.3%. The Aussie gained on the data, though it may yet retreat if US non-farm payrolls released later today turn out to be better-than-expected.

AUD/USD edged up from 0.7413 to 0.7421 as of 10:53 GMT today. AUD/JPY ticked down from 84.56 to 84.51.

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