The Australian Trade Balance data released earlier today indicated an increase in goods and services surplus in June.
The Retail Sales m/m data released indicated an increase in consumer spending in June.
- Trade Balance (Actual: 8.20B, Forecast: 8.80B, Previous: 7.34% revised from 8.03B)
- Retail Sales m/m (Actual: 2.7%, Forecast: 2.4%, Previous: 2.4%)
AUD/USD’s next is at 0.69800 and the next is at 0.72000.
With the worsening condition of COVID-19 in Australia, if the RBA expressed any signs of dovishness, look for selling opportunities of AUD/USD .