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AUD/USD moved before ‘official’ release of retail sales data
Someone got an early tip-off that the retail sales data was better than expected as the market moved swiftly from 1.0615 to 1.0630 a full minute before the much-better than expected data was released. That aside, those of us worrying that the Australian economy might be slowing down more than expected are probably being a little alarmist, given this strong data. The trade balance was worse than expected but this was a result of higher imports, another sign of continued economic activity.
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