-
AUD/USD: bears retain control ahead of Australian consumer confidence
The AUD/USD pair fell to a fresh 2018 year low of 0.7433, before bouncing modestly, still ending the day in the red, undermined at the beginning of the day by local retail sales that came in flat in March, down from a previous 0.6% advance, and below market's forecast of 0.3%. The pair fell sharply early Europe, following Fed's Powell comments that highlighted the divergences between both central banks spending the rest of the day consolidating losses. Australia will release its Westpac Consumer Confidence index for May during the upcoming Asian session, latest seen at -0.6%. The pair is still technically bearish ... (full story)