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3 Jul 2014
AUD/USD: Aus retail sales adds +20 pips into bears' pockets
FXStreet (Bali) - AUD/USD found a new low at 0.9370 following a downbeat Aus retail sales report, which came at -0.5%, way below the 0% expected by the market.
The drops was small (20 pips) if compared to the preceding slide right after RBA Governor Stevens crossed the wires to wreak havoc the AUD value, immediately falling from 0.9440 key support down through 0.94. Judging by the new adopted neutral rhetoric, Stevens sounded unusually dovish in today's speech, taking an opportunity to talk down the AUD, while even hinting that rates could head lower before going higher.
The drops was small (20 pips) if compared to the preceding slide right after RBA Governor Stevens crossed the wires to wreak havoc the AUD value, immediately falling from 0.9440 key support down through 0.94. Judging by the new adopted neutral rhetoric, Stevens sounded unusually dovish in today's speech, taking an opportunity to talk down the AUD, while even hinting that rates could head lower before going higher.