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Australian Retail Sales hits expectation

Written by Sam Coxhead on January 10th, 2011.      0 comments

11:42 AM (AEST) Australian Retail Sales for November just released showed a +.3% increase on October sales which was right on forecasts. This has seen a very slightly stronger AUD drag the NZD with it. With the flooding in Queensland and the efforts by the Chinese to curb inflationary pressure through a wide variety of different measures, the AUD has been heavy for the start of 2011. This week we have Australian Home Loan data on Wednesday and the Employment numbers on Thursday.
The EURO continues to see selling pressure as the Govt debt issues show no sign of easing. Portugal look to be under real pressure to accept some kind of funding package in the near future. Whilst the EURO remains weak , it is hard to see the NZD and AUD having a lunge to the topside against the USD. 
          Last 24 hours trade
  Current level Pre-AU Retail S. Chge AU Retail S   Low High
NZD/USD 0.7615 0.7599 0.2%   0.7561 0.7638
AUD/USD 0.9971 0.9950 0.2%   0.9918 0.9994
NZD/AUD 0.7636 0.7627 0.1%   0.7621 0.7643
AUD/NZD 1.3095 1.3111 -0.1%   1.3083 1.3121
NZD/GBP 0.4899 0.4884 0.3%   0.4874 0.4918
NZD/EUR 0.5901 0.5890 0.2%   0.5851 0.5901
NZD/JPY 63.17 63.07 0.2%   62.67 63.51
NZD/CAD 0.7555 0.7541 0.2%   0.7516 0.7555