AUD/USD could be one to add to the watchlist this week after the Aussie Dollar went bid today following strong retail sales.
Australian retail trade for November soared to its highest levels since the pandemic began as lockdowns in NSW and VIC ended just in time for Black Friday and pre-Christmas shopping. However, with economists expecting Wednesday’s US CPI print to bolster the Fed’s new hawkish stance, US Dollar bulls could quickly return to the market.
Can AUD/USD breakout and target a new monthly high, or will US inflation data weigh on this currency pair?
Check out our latest article by one of our senior analysts for an in-depth analysis and potential levels to trade off:
https://www.forex.com/en-uk/news-and-analysis/the-aussie-rallies-on-strong-retail-trade/