Australia’s Retail Sales, a measure of the country’s consumer spending, increased 0.1% MoM in September, compared to a rise of 0.7% in August, the official data published by the Australian Bureau of Statistics (ABS) showed on Thursday.
Australia ’sRetail Sales, a measure of the country’s consumer spending, increased 0.1% MoM in September, compared to a rise of 0.7% in August, the official data published by the Australia n Bureau of Statistics showed on Thursday. The reading came in below the market expectationsof a 0.3% growth. Market reaction to Australia ’s Retail Sales data At the time ofwriting, theAUD/USDpairis down 0.08%on the dayat 0.6566.
How does the health of the Chinese Economy impact the Australian Dollar? China is Australia’s largest trading partner so the health of the Chinese economy is a major influence on the value of the Australian Dollar . When the Chinese economy is doing well it purchases more raw materials, goods and services from Australia, lifting demand for the AUD, and pushing up its value. The opposite is the case when the Chinese economy is not growing as fast as expected.
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