AUD/USD sheds 0.20% ahead of Aussie Retail Sales data. Losses in copper and Bloomberg’s commodity index looks to be weighing over the AUD. The Aussie dollar is feeling the pull of gravity during Friday’s Asian trading hours alongside the signs of weakness in copper, one of Australia’s key exports. The AUD/USD pair is currently trading at 0.7167, representing a 0.20% decline on the day, having risen from 0.70 to 0.72 in the past five trading days. Copper slides Comex copper’s front-month futures fell by 5% on Thursday, the biggest single-day percentage decline since March 18. At press time, the metal is trading at $2.85, the lowest level since Aug. 17. Further, Bloomberg’s commodity index has slipped to 1-1/2 month lows. As such, the commodity-sensitive Aussie dollar is flashing red and may suffer a deeper decline during the day ahead. The AUD, however, may find bids if the Aussie August Retail Sales data, due at 01:30 GMT, betters estimates by a big margin. The data is expected to show consumer spending fell by 4.2% month-on-month in August. Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Silver Price Analysis: XAG/USD drops below $24.00 inside short-term symmetrical triangle FX Street 2 years AUD/USD sheds 0.20% ahead of Aussie Retail Sales data. Losses in copper and Bloomberg's commodity index looks to be weighing over the AUD. The Aussie dollar is feeling the pull of gravity during Friday's Asian trading hours alongside the signs of weakness in copper, one of Australia's key exports. The AUD/USD pair is currently trading at 0.7167, representing a 0.20% decline on the day, having risen from 0.70 to 0.72 in the past five trading days. Copper slides Comex copper's front-month futures fell by 5% on Thursday, the biggest single-day percentage decline since March 18. At press time, the metal… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
