Aussie Retail Sales worst than expected, AUD slides to fresh session lows
|Australia’s data focus is on June Retail Sales that has just been released as follows:
Australia Retail Sales for June, preliminary, arrived at -1.8% MoM vs the expected -0.5%.
Meanwhile, AUD/USD. already pressured by the spike in the delta variant today in Sydney and in general risk wariness, has been sent to fresh session lows of 0.7322 and falling ...
However, analysts at Westpac, prior to the rest, explained that the full impact of Victoria's restrictions will show in this survey which will be subject to revisions next time around.
''The lockdown in Sydney and another round of mini–lockdowns across multiple jurisdictions (QLD, WA, NT and VIC again) won’t hit until July.''
Overall, risk sentiment is fragile pertaining to the risk of the delay variant spreading worldwide.
New cases reported for the previous 24 hours are 110, up from 78 the previous day in Syndey. Neighbouring state Victoria reported a daily case number today at 22 from 13 the previous day.
Additionally, vaccines have been scrutinised for their effectiveness vs the variants and it does not read well:
Risk-off: bioRxiv study shows J&J vaccine may be less effective against Delta covid variant
This leaves a bearish environment for the higher beta currencies such as the Aussie.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.