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June RBA Rate Decision & AUDUSD Price Forecast
Since the last Reserve Bank of Australia rate decision on May 7, economic data trends have proved disappointing. The Citi Economic Surprise Index for Australia, a gauge of economic data momentum, fell from 43.9 on May 7 to 26.9 on May 31. While there was neither a GDP nor an inflation report released, the data that did come out proved middling at best. March Australia retail sales grew by 0.3% after adding 0.9% in February (m/m), while the April Australia jobs report showed a strong topline figure that was undercut by a surprise rise in the unemployment rate. table In the interim period since the last RBA meeting ... (full story)