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EUR/USD nears YTD low, S&P 500 tags key trendline
Australian retail trade rose just 1.5% y/y in August (or 0.2% m/m), which is its slowest pace of annual sales since August 2021. The economy clearly is slowing, although yesterday’s inflation report has raised some concerns of another hike – and the surge in bond yields has now seen RBA cash rate futures fully prince in one more hike by 2024. AUD/USD has recouped some of yesterday’s losses whilst the ASX 200 bounced from 7,000, although in both cases I’d prefer to seek areas of resistance to fade into for potential short intraday setups (given current sentiment). The US dollar has hardly budged from its YTD ... (full story)