PREVIOUS TRADING DAY EVENTS 28 August 2023

Australians spending was on despite the rising cost of living. Retail spending grew by 0.5 in July, according to the data released on Monday by the Australian Bureau of Statistics. The annual rate however slowed further.

Ben Dorber, ABS head of retail statistics While there was a rise in July, underlying growth in retail turnover remained subdued, he said.

The Reserve Bank of Australia paused its rate hikes for two straight months due to a slowdown in spending. On the 1st of August, the RBA left the official cash rate unchanged. The current official cash rate, as determined by the Reserve Bank of Australia RBA, is 4.10. The next RBA Board meeting and Official Cash Rate announcement will be on the 5th of September 2023.

Source httpswww.reuters.combusinessretailconsumeraustraliaretailsalesreboundafterfallannualrateslowsfurther20230828

Winners vs Losers

The AUDCAD is leading this week with 0.5 gains. The AUDUSD is following, indicating that the AUD has gained some ground this week against other pairs.
USDCAD still holds the first place for the months winners with 3.11 gains.  

News Reports Monitor Previous Trading Day 28 August 2023

Server Time Timezone EEST UTC 0300

Midnight Night Session Asian

Australia Retail Sales were reported higher than expected at 430. This did not have much impact on the AUD pairs at that time. 

MorningDay Session European and N. American Session

No major news…