AUD / USD
With the opening of the new trading week, the Australian dollar jumped up sharply against unexpectedly good economic data. Retail sales in April increased by 0.4% against the forecast of 0.2% and 0.0% in March. The gross profit of companies in the 1st quarter showed an increase of 5.9% against the expectations of 3.0% and for the 4th quarter, the indicator was revised up to 2.8% from 2.2%. Inventories for the same period increased by 0.7% against the forecast of 0.1%. The number of vacancies in May increased by 1.5%.
Australia's balance of payments for the first quarter will be published tomorrow, it is expected to reduce the negative balance from -14.0 billion dollars to -9.9 billion dollars. The main event of tomorrow will be the RBA decision on monetary policy.
We are looking forward to continued growth of AUD / USD to 0.7660.
The presented market analysis is informative and does not constitute a guide to the transaction.
