FxWirePro: Aussie gains against major peers on robust retail sales data
Friday, November 4, 2016 1:26 AM UTC
- AUD/NZD is currently trading around 1.0498 marks.
- Pair made intraday high at 1.0507 and low at 1.0463 marks.
- Intraday bias remains bullish till the time pair holds immediate support at 1.0463 marks.
- A sustained close above 1.0531 will drag the parity higher towards key resistances at 1.0618/1.0658/1.0751/1.0823/1.0976 (January 2016 high) /1.1062 (30D EMA) /1.1123/1.1298/1.1317 levels respectively.
- Alternatively, a consistent close below 1.0463 will take the parity down towards key supports around 1.0333, 1.0237, 1.0184, 1.0109 and 1.0053 marks respectively.
- Australia September retail sales m/m increases to 0.6 % (forecast 0.4 %) vs previous 0.4 %.
- Australia September retail sales m/m increases to 0.6 % (forecast 0.4 %) vs previous 0.4 %.
- In addition, Australia released monetary policy meeting minutes.
- RBA policy statement: Board saw "reasonable prospects" of achieving sustainable economic growth.
- RBA: Inflation to stay steady in near term, rise gradually to 2 pct by end 2018.
- RBA: Repeats an appreciating A$ could complicate economic transition.
- RBA: Outlook for commodity prices, particularly coal, more positive than previously thought.
- RBA: GDP and inflation forecasts little changed, GDP seen 2.5-3.5 pct end 2017, 3-4 pct end 2018.
- RBA trims jobs growth forecast, jobless rate to "edge just a little lower" over next 2 years.
- RBA: Outlook for household consumption remains a key uncertainty.