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Australian retail sales strongest in more than 3 years

FXstreet.com (Barcelona) - A surprise came through retail sales, up +1.3% vs +0.3% expected, which is pushing the Aussie near 1.05 vs the US Dollar, with the data dashing even further any possibility for more rate cuts by the RBA down the road.

This is the strongest retail sales result in more than 3 years, suggesting the easing campaign is impacting the economy positively.

Australian building approvals for the month of February came on the positive side by +3.1% vs 2.4% expected, while on a yearly basis it stood at +12.8% y/y vs +14.3% expected.

Forex: AUD/USD higher on better data than expected

AUD/USD advances to fresh weekly highs at 1.0498 from previous session lows at 1.0450 when latest data in Australia has been released. The pair trades last at 1.0478, off mentioned high. The recent session high is about the same as yesterday's previous weekly high printed in early NY session, what so far forms a double high for the week.
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