AUD/USD drops to near 0.6780 ahead of Australian Retail Sales and US debt-ceiling talks – by Sagar_Dua24 AUDUSD RBA Inflation RetailSales DollarIndex
asset looks solid as the decline is merely a correction, which is generally considered a buying opportunity by the market participants.
Mild losses in the S&P500 futures after a rangebound Monday are portraying a decline in the risk appetite of investors. The Australian Dollar is in the upside motion ahead of the quarterly Retail Sales data. As per the expectations, the economic data contracted by 0.4% vs. a contraction of 0.2% recorded for the fourth quarter of CY2022. This will allow the Reserve Bank of Australia to keep interestApart from that, Australia’s budget release will keep the Australian Dollar in action.
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