Just noticed the Australian currency is holding up pretty well around 0.7180 this week. AUD/USD seems to be getting some lift from decent economic data on both sides of the equation.



Australia's unemployment stayed flat at 4.3%, which is fine, but job creation slowed to 17,900 from nearly 50k the month before. Not exactly stellar. Over in China, retail sales disappointed at 1.7% year-over-year, though industrial production came in better than expected at 5.7%. Their GDP also ticked up 1.3% quarter-on-quarter, so there's some mixed signals there.

The Australia currency pair is catching some bids off this, but here's the thing - geopolitical stuff could be a headwind. Middle East tensions are still simmering, which usually props up the US Dollar as a safe haven. The ceasefire talks are progressing but the Strait of Hormuz situation remains dicey. Might cap upside for AUD/USD if risk sentiment turns.
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