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A$ Firmer, Limited Reaction To As Expected Retail Sales

AUD

The A$ hasn't reacted a great deal to the as expected AU retail sales print (+0.2%), with the Jan figure revised down a touch to 1.8% from 1.9% prior. AUD/USD sits close to the session highs, in the 0.6665/70 region, around +0.25% firmer. This is through Monday session highs, with Friday highs form last week coming in close to 0.6700.

  • The USD is weaker across the board, with yen leading gains (+0.50%). So, the A$ strength is in line with those trends, albeit with AUD/JPY away from 87.50, last near 87.25/30. Lower US yields and firmer equities are weighing on the USD at this stage.
  • The retail sales print is unlikely to shift the needle much in terms of the RBA debate. Note we do get monthly CPI figures tomorrow.
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