- Retail sales in Australia rose 0.2% in September.
- ANZ Job Advertisements fell by 1% in October.
- US Commerce Secretary Ross says they are “very far along” in trade talks.
The AUD/USD pair came under modest bearish pressure in the early trading hours of the Asian session following the mixed macroeconomic data releases from Australia. Although the pair gained traction on the back of positive developments surrounding the United States (US) – China trade conflict, it failed to cling to its gains and was last seen posting small losses on the day at 0.6908.
Job ads in Australia declined in October
Earlier in the day, the data published by the Australian Bureau of Statistics revealed that Retail Sales in Australia rose 0.2% in September as expected. On the other hand, the ANZ Job Advertisements for August came in at -1% following September’s reading of +0.3%. Commenting on the data, “The ANZ Job Ads series has been pointing to a material slowdown in employment growth for some time; yet employment growth has been remarkably resilient,” noted ANZ.
In the meantime, speaking to reporters on the sidelines of the ASEAN Summit on Monday, US Commerce Secretary Wilbur Ross noted that the phase-one trade deal talks with China had come “very far along” to help trade-sensitive antipodeans gain stay resilient.
In the second half of the day, Factory Orders and the ISM-NY data from the US will be looked upon for fresh impetus. On Tuesday, Commonwealth Bank’s Services PMI and Composite PMI reports from Australia will be watched closely by the participants as well.
Technical levels to watch for
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