{"id":101334,"date":"2020-06-19T09:36:22","date_gmt":"2020-06-19T13:36:22","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=101334"},"modified":"2020-06-19T09:36:22","modified_gmt":"2020-06-19T13:36:22","slug":"103456-aud-usd-aussie-rises-on-us-china-trade-optimism-rebounding-retail-sales","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103456-aud-usd-aussie-rises-on-us-china-trade-optimism-rebounding-retail-sales\/","title":{"rendered":"AUD\/USD: Aussie Rises On US \u2013 China Trade Optimism &#038; Rebounding Retail Sales"},"content":{"rendered":"<ul>\n<li><strong>Chinese plans to buy more American farm products lifted risk sentiment and risk sensitive Australian Dollar (AUD)<\/strong><\/li>\n<li><strong>Australian retail sales jumped +16.3% in May after -17.7% drop in April<\/strong><\/li>\n<li><strong>Safe haven US Dollar eases nothing new expected from Jerome Powell<\/strong><\/li>\n<li><strong>Australian Dollar US Dollar exchange rate set to gain 0.5% across the week<\/strong><\/li>\n<\/ul>\n<p>The Australian Dollar is bounding higher at the end of the week, snapping a three-day losing run. At 13:00 UTC, AUD\/USD is trading +0.7% at US$0.6900, at the top end of the daily traded range as investors move on from second wave fears that have weighed on market sentiment across the middle part of the week.<\/p>\n<p>Owing to today\u2019s rally, the Aussie Dollar is on track to gain 0.5% versus the US Dollar across the week, rebounding after losing -1.5% the previous week.<\/p>\n<p>Risk appetite was rebounding after reports that China plans to accelerate its purchases of American farm goods in order to comply with the phase one US \u2013 Sino trade deal. The news is being well received by traders, particularly after US \u2013 China relations have been more tense following the covid-19 outbreak. Not only is the Australian Dollar risk sensitive, it is also a proxy for China<\/p>\n<p>Domestic data has also been supportive of the Australian Dollar with retail sales surging +16.3% in May. This was a sharp rebound from April\u2019s record -17.7% decline. The gradual easing of lockdown restriction during the month of May saw consumers returning to shops en masse.<\/p>\n<p>The data boosted hopes of a quicker economic recovery from the coronavirus pandemic and supports comments by the Reserve Bank of Australia\u2019s governor Dr Philip Lowe, that the economic downturn following the coronavirus outbreak may not be as severe as initially feared. Even so, Australia is still on track for its first recession in three decades.<\/p>\n<p>The US Dollar is trading on the back foot as investors sell out of the safe haven in search of riskier assets and currencies.<\/p>\n<p>Federal Reserve Chairman Jerome Powell is due to speak again in the US session. This will be his third appearance this week. He is unlikely to add anything new to his cautious stance.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chinese plans to buy more American farm products lifted risk sentiment and risk sensitive Australian Dollar (AUD) Australian retail sales jumped +16.3% in May after -17.7% drop in April Safe haven US Dollar eases nothing new expected from Jerome Powell Australian Dollar US Dollar exchange rate set to gain 0.5% across the week The Australian [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":5152,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1547,1381],"tags":[1540,1541,1445,1430,1403,1397,1398],"class_list":{"0":"post-101334","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-aud","8":"category-usd","9":"tag-aud","10":"tag-australian-dollar","11":"tag-jerome-powell","12":"tag-retail-sales","13":"tag-trade-deal","14":"tag-us-dollar","15":"tag-usd"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>AUD\/USD: Aussie Rises On US \u2013 China Trade Optimism &amp; 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