Aussie Retail Sales: Stronger than expected yet AUD/USD unch

Aussie Retail Sales: Stronger than expected yet AUD/USD unchanged


7/5/2021 1:33:15 AM GMT
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By Ross J Burland
Aussie Retail Sales arrived at +0.4 pct m/m s/adj (reuters poll +0.1 pct).
Meanwhile, preliminary estimates showed a significant slowing in Australian retail sales in May with a 0.1% rise, analysts at Westpac said.
''Coronavirus restrictions had a more material impact than expected with Victoria recording a -1.5% decline despite some lift in ‘stockpiling’ ahead of the 14-day lockdown in June. The final release may see slight revisions and will include the full survey detail.''
AUD has not budged on the data.
AUD/USD technical analysis
Technically, from a 4-hour perspective, a pullback could be in order, targeting 0.75 the figure in a 38.2% Fibonacci retracement. 

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