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EUR/USD Forecast May 24-28 - German GDP could weigh on euro
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Aussie slips despite solid Retail Sales
Posted 2 hours agoSharePrint
It’s been an up-and-down week for the Australian dollar. AUD/USD is in negative territory on Friday, surrendering most of the gains made on Thursday. In the European session, AUD/USD is trading at 0.7756, down 0.25% on the day.
Australian Retail Sales beats forecast
Retail Sales for March showed a gain of 1.1%, easily beating the forecast of o.5%. This marked the third straight month that Retail Sales has exceeded the 1.0% level, which points to steady growth in consumer spending, a key driver of economic activity.
There was more positive news on Thursday from PMI reports, which pointed to strong growth in the manufacturing and services sectors. The Manufacturing PMI came in at 59.9 and the Services at 58.2, as we continue to see sustained expansion in both sectors. The neutral 50-level separates contraction from expansion.