AUD Lower Despite Retail Sales Boost Ahead of US NFP

The Australian dollar is lower despite a modest rise on solid retail spending figures.

At 1200 AEST on Friday, the local unit was trading at 70.45 US cents, down from 70.64 cents on Thursday.

The Aussie gained some ground after official figures showed retail spending rose 0.4 per cent in August, in line with market expectations.

However, the local currency has been weighed down by caution ahead of the release of US employment data on Friday night, which may influence the timing of a Federal Reserve rate hike.

Via $A lower ahead of US jobs data

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza