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Forex Flash: Australian retail sales drop but not affecting tomorrow’s RBA decision much – TD Securities

Australian retail sales disappointed at the headline level, down –0.4% in March (consensus +0.1%), but a jump in sales volumes (+2.2% in Q1) bodes well for Q1 GDP, according to TD Securities analysts: “We see today’s report as, at the margin, supporting the case for another month of ‘wait and see’ for the RBA”, wrote analyst Alvin Pontoh, adding that swap markets still price in 50-50 on a rate cut tomorrow.
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Forex: AUD/USD testing lows around 1.0270/75

The Aussie dollar is extending its intraday decline on Monday, posting fresh lows around 1.0270/75 after climbing to the area of 1.0320 overnight...
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