The US Retail Industry Data Soared. How would USD and AUD Perform?

WikiFX News (17 June) -The retail sales data released by the United States of May was better than expected, which brought about a rise in US stocks as well as USD, while AUD and NZD fell.

In May, retail sales in the United States has increased by 17.7% MoM, much higher than the estimated growth of 8.0%, which further highlighted the tendency of economic recovery. However, Fed Chairman Jerome Powell warned that there was still a huge volatility in labor market reports, calling for patience, and he estimated that there was a long way to go for economic recovery.

Powell's speech weakened some of the increase amount of the US stocks after the retail sales data was released, and the foreign exchange market also showed a certain degree of risk aversion. The safe-haven currency US dollar rose, while the cycle-sensitive AUD and NZD fell.

In today's Asian market period, in the context of the worry about the second epidemic and geopolitical tensions, the safe-haven currencies USD and JPY are expected to rise continuously, while AUD and NZD may be in a difficult situation.

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