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Australian Dollar Steady On Retail Beat, RBA, GDP in Firm Focus
The Australian Dollar showed muted reaction Monday to some quite upbeat economic data from its home country. The looming presence of Tuesday’s monetary policy meeting from the Reserve Bank of Australia may have blunted the numbers’ impact. Retail sales rose 0.4% on the month in April, beating the 0.3% gain expected and exceeding market forecasts for the first time in many months. The retail sector remains subdued overall, however, and it seems unlikely that consumers are going to come back strongly anytime soon. Corporate profits were revealed to have risen a punch 5.9% in the last year’s final quarter, ... (full story)