Increased Retail Sales Can Be a Positive Sign
After experiencing problems with Covid that disrupted business, of course, it would have an impact on people's purchasing power. Of course, during the recovery period from Covid, Australia was one of the countries that scored a trade balance surplus and retail sales continued to increase. Retail sales in Australia rose 1.6% for the third straight month, results in March showed that retail sales hit a record high of AUD 33.63 billion after a record high, amid continued easing of restrictions. Household goods retail, up 3.4% followed by other retail (2%), cafe, restaurant and takeaway food service (2%), department store (4.1%), food retail (0.5%) and clothing, footwear (0.5%) . Sales in Queensland (3.4%) and New South Wales (1.8%) saw the biggest gains after recovering from floods and extreme rainfall.
Indicates that the Australian economy is recovering. Of course this will have an impact on the strengthening of the AUD currency. In monetary policy, the RBA has raised its interest rate by 25 BPS which makes market participants believe that further strengthening will occur for this currency.
Market Direction
By looking at the above phenomenon, it is certain that the strengthening of the AUD currency in the future can last a long time because it is predicted that the Australian central bank will raise interest rates to reduce the impact of prolonged inflation coupled with positive economic growth.
above will affect the pair:
Pair AUD/JPY Bullish
Entry Buy
S1: 90,603
S2: 88,794
S3: 86,954
Take Profit
R1: 94,697
R2: 96,920
R3: 98.614
Indicates that the Australian economy is recovering. Of course this will have an impact on the strengthening of the AUD currency. In monetary policy, the RBA has raised its interest rate by 25 BPS which makes market participants believe that further strengthening will occur for this currency.
Market Direction
By looking at the above phenomenon, it is certain that the strengthening of the AUD currency in the future can last a long time because it is predicted that the Australian central bank will raise interest rates to reduce the impact of prolonged inflation coupled with positive economic growth.
above will affect the pair:
Pair AUD/JPY Bullish
Entry Buy
S1: 90,603
S2: 88,794
S3: 86,954
Take Profit
R1: 94,697
R2: 96,920
R3: 98.614
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