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Aussie hits four-week high as retail sales top estimates
AUD/USD climbed to its highest level since December 14 this morning after Australia’s retail sales for November came in above forecast. Sales rose 0.4% m/m, up from 0.3% growth in October and beating economists’ estimates of a 0.3% gain. November’s expansion was the fastest in five months. The Australian Bureau of Statistics noted outperformance by the household goods and clothing categories, both of which were impacted by strong promotional activities, including Black Friday. AUD/USD’s rally has pushed it above the convergent 55- and 100-day moving averages at 0.7181 and 0.7179, respectively. The next ... (full story)