Aussie rebounds on expected wage surge

Aussie rebounds on expected wage surge

On Wednesday, the Australian dollar rebounded following sturdy wage price data.

The currency pair AUD/USD hit 0.7834, rising 0.15%, while USD/JPY showed 110.65, sliding 0.01%.

The US dollar index, tracking the US dollar’s strength versus a trade-weighted basket of six crucial currencies, didn’t change, demonstrating 93.75.

Overnight, the US currency traded higher versus a basket of global currencies, underpinned by retail sales data, which topped predictions, hinting at a rebound in consumer spending, driving expectations of firm economic surge in the second half of 2017.

On Tuesday, the Commerce Department told that the previous month retail sales went up 0.6%. It turned to be the largest revenue for seven months, concluding four-consecutive months of lower than expected surge.

Safe-haven jitters kept easing, as North Korean state media posted on Tuesday that leader Kim Jong Un had postponed his decision on launching missiles towards the American pacific territory of Guam. As follows from this his earlier threats might have been rhetorical.

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