Australia Retail Sales, pre, for October +1.6% MoM significantly beating estiamtes , AUD firmer


Australia preliminary Retail Sales for October +1.6% MoM and beat estimates of +0.3%, so was a significant beat although is subject to revisions in the final data. 

AUD/USD is firmer on the data and closing on the psychological 0.7280 level.

Australian October 20 Retail Sales - Full Report

The seasonally adjusted estimate rose 1.6% ($460.5m) from September 2020 to October 2020. In seasonally adjusted terms, Australian turnover rose 7.3% in October 2020 compared with October 2019.

Cafes, restaurants and takeaway food services led the rises, although there were also rises for Other retailing, and Clothing, footwear and personal accessory retailing. Household goods retailing was relatively unchanged, maintaining recent strength.

 

AUD/USD 15-min chart

Hourly chart

The hourly chart displays a firm layer of support and price is en route for a 50% mean reversion level guarding resistance between 0.7290/7300.

About Retail Sales

The Retail Sales released by the Australian Bureau of Statistics is a survey of goods sold by retailers is based on a sampling of retail stores of different types and sizes and it''s considered as an indicator of the pace of the Australian economy. It shows the performance of the retail sector over the short and mid-term. Positive economic growth anticipates bullish trends for the AUD, while a low reading is seen as negative or bearish.

 

 

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD: Corrective pullback fades below previous support, 200-SMA

EUR/USD remains on the back foot, receding taking rounds to 1.2120-25, amid a sluggish Asian session trading on Wednesday. Sellers to keep reins as unless prices cross three-week-old resistance line. Easing bullish bias of MACD adds to the downside signals.

EUR/USD News

GBP/USD: Bears in control, cling to multi-day support near 1.4080

The GBP/USD pair started the session on Wednesday on a lower note. The pair recovered from the low of 1.4034 on Tuesday to close near the 1.4080 mark, where it waivers now. Momentum oscillator hints at downside momentum.

GBP/USD News

EUR/USD: Corrective pullback fades below previous support, 200-SMA

EUR/USD remains on the back foot, receding taking rounds to 1.2120-25, amid a sluggish Asian session trading on Wednesday. Sellers to keep reins as unless prices cross three-week-old resistance line. Easing bullish bias of MACD adds to the downside signals.

EUR/USD News

Shiba Inu ready to reverse to $0.0000050

SHIB price faces stiff resistance ahead. Shiba Inu has had a difficult time recovering, suggesting that it may soon face rejection. In the following video, FXStreet's analysts evaluate where SHIB price could be heading next as Shiba Inu gets weaker.

Read more

FOMC Preview: Taper talk and impact on dollar

The outcome of Wednesday’s Federal Reserve monetary policy announcement could set the stage for how the U.S. dollar and currencies trade over the next month. With that in mind, the greenback maintained its bid ahead of rate decision.

Read more

Forex MAJORS

Cryptocurrencies

Signatures