Daily digest market movers Australian Dollar rebounds on weaker US Dollar Index after Retail Sales
The AUD rebounds against the USD on Friday.
The USD softens despite better-than-expected US Retail Sales data ahead of the crucial holiday shopping season.
US Retail Sales expanded by 0.4% in October, exceeding expectations and surpassing September's growth.
Retail Sales Control Group contracted by 0.1%, while excluding Autos sales grew 0.1% MoM, below consensus.
Traders pare back bets on another Fed interest rate cut in December due to Powell's remarks.
Markets price in a 25 bps RBA cut only in May 2025, which diverged with the markets’ bet on the Fed, which could eventually help the Aussie.
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