Australian Retail Sales for April 2024 +0.1% m/m (expected +0.2%)

Australian Retail Sales for April 2024 +0.1% m/m

• expected +0.2%, prior -0.4%

Consumer spending is still soft. Yes, it improved from the drop m/m in March but +0.1% given solid inflation and growth in the population is a poor result. High borrowing costs, high rents weighing.

AUD/USD is, nevertheless, having a small pop, alongside a weaker USD pretty much across the majors board,

AUD/USD is circa 0.6661.

But its NZD/USD that is outperforming on the session, at a two-month high:

This article was written by Eamonn Sheridan at www.forexlive.com.