After starting the week at 0.7368, Aussie/Dollar slips to 0.7271 (down 1.31%) .
A bearish end to the trading week, AUD/USD recovered back to 0.7271 after dipping down to 0.7242 in a week that started at 0.7368. (Trade Australian dollar with FXTM now).
This downslide might be related to financial indicators data published earlier as Australia Employment Change fall short of the -90,000 projections, with -146,300 and continued its downward trajectory from previous figure of 2,200. United States Retail Sales beats expectations of -0.8% with new data release of 0.7%. This is also a step forward from the previous data of -1.8%. Data for United States Core Retail Sales released yesterday at 12:30 PM comes out at 1.8%, beating projections of -0.1% and showing improvement over the preceding figure of -1%. Data for United States Philadelphia Fed Manufacturing Index (Sep) released yesterday at 12:30 PM comes out at 30.7, beating projections of 18.8 and showing improvement over the preceding figure of 19.4.
On the flip side, positive data for Australian dollar released earlier when United States Initial Jobless Claims fall short of the 330,000 projections, with 332,000 and continued its downward trajectory from previous figure of 312,000.
Outlook for rest of the week: Market will keep its eye on the following upcoming macroeconomics indicators: Tuesday data for United States Building Permits will be released, with an expected decline to 1.60 million from the preceding figure of 1.63 million. United States New Home Sales projected to outperform last figure with 720,000 while it previously stood at 708,000, data will be released Friday. Projections for United States Existing Home Sales are set for a continuation of decline with 5.89 million while previous data was 5.99 million, data will be released Wednesday.