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Australian Retail Sales numbers jump

Written by Sam Coxhead on June 2nd, 2011.      0 comments

11:45 AM (AEST) The just released monthly Australian Retail Sales numbers show an increase of 1.2% against an expectation of .4%. The Trade Balance was also released and showed 1.60 billion surplus againist a higher expectation of 2.07 Billion. The Trade number is infact a decent indicator that the economy is still bubbling along as it illustrates an increased demand for imports, a sign of consumer strength.

The AUD/USD popped just ahead of the number (leak assumed) from 1.0615 to the current price of 1.0648 or there abouts.

This will give heart to the AUD bulls in the market that have been under pressure of late with other indicators turning softer.

Elsewhere the Asian equity markets have followed the US lead with the Nikkei down around 2% on the session so far.

NZD/USD .8151
AUD/USD 1.0649
NZD/AUD .7654
AUD/NZD 1.3065
NZD/GBP .4987
NZD/EUR .5677
NZD/JPY 66.18
NZD/CAD .7965
 

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