The Australian dollar gave away a few points after the big data dump:
- Australia Retail Sales for July: 0.0% m/m (expected 0.3%)
- Australia Company inventories for Q2: 0.6% q/q (vs. expected 0.2%)
- Australia ANZ job ads for August: -0.6% m/m (prior +1.5%)
While the GDP-input (inventories) was a solid beat its an indicator for April - June … so you'll hear 'ancient history' in explanations of this result (probably from me too, TBH)
The more timely (if you think July and August are more timely I guess …) indicators were not so good.
Anyway, AUD has lost a few points - adding to its downtrend …. :
If you are a 'the trend is your friend' sort of guy or gal you'd be doing well selling into rallies.
If you are a bottom pickin' sort though …. ewwwww…..
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Dane on the data result and AUD implications:
Its a good idea to follow Dane on the Twitter @danewilliamsau