AUD Sustains Its Upward Momentum: Overview for November 28, 2023

<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/AUDUSD_6-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="AUD/USD analysis today" style="margin-bottom: 15px;" decoding="async" loading="lazy" /></div><p>The <a href="https://roboforex.com/beginners/info/charts/forex/audusd/" data-internallinksmanager029f6b8e52c="33" title="AUD/USD">AUD/USD</a> pair is marking new highs in its current trend.</p>

<p>The Australian dollar continues its upward trajectory against the US dollar, with the current AUD/USD exchange rate reaching 0.6621.</p>

<p>Notably, retail sales in Australia for October recorded a 0.2% m/m decrease, in contrast to the prior increase of 0.9%. This unexpected decline diverged from the projected 0.1% growth.</p>

<p>The report presents a notably weak performance, requiring the Reserve Bank of Australia to scrutinize the data for informed decision-making. With households increasingly opting to save, anticipating sales in November and December for essential purchases, a significant impact on the retail market is expected.</p>

<p>Despite this, the labor market still exhibits a shortage of available workforce, bolstering wage growth and sustaining a stable level of <a href="https://blog.roboforex.com/blog/2022/06/30/what-is-inflation-reasons-and-consequences/" data-internallinksmanager029f6b8e52c="220" title="Inflation">inflation</a> within the country.</p>

<p>The intricate challenge posed by these dynamics may necessitate careful consideration and action from the RBA.</p>

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