WWM - Analytics

    WWM

    155.25 5.25/10
    100% of positive reviews
    Real

    AUD/USD Fell Below 0.7000 on Soft July Retail Sales

    The australian dollar fell sharply to 0.7000 from 0.7035 (-35 pips) during the Asian morning session after the lower than expected Australian Retail Sales which fell to -0.1% in July versus the median forecast of 0.4%, erasing the gains it made in the late NY session from the intraday high of 0.7062 after the Dow Jones stocks closed higher at 1.85%.

    Further selling ensued in early Europe and pushed the aussie lower to dip to 0.6992 following the soft Retail Sales data combined with the S&P futures which initially traded lower and weighed on the aussie.

    Trading was rather quiet and confined to a narrow range between 0.7025 amd 0.7000 in the absence of the Chinese participants away for a public holiday. Focus now shifts to the ECB policy announcement later and Mario Draghi's press conference.

    AUDUSD.9.3 resized 600 

    Chart: WorldWideMarkets Alpha Trader

    Forex Trading Demo

    To leave a comment you must or Join us


    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree