Aussie propped by stocks and commodities - FXStreet

Valeria Bednarik, chief analyst at FXStreet explained that the Australian dollar edged higher this Thursday, extending to a fresh weekly high of 0.7640 against its American rival, in spite of poor local data released during the past Asian session.

Key Quotes:

"According to official data, June retail sales rose 0.1% monthly basis, against the 0.3% consensus and  the 0.2% previous. In the second quarter, retail sales ex inflation surged by 0.4% quarterly basis, missing  estimates and the previous reading of 0.5%. "

"The Aussie found support in commodities and stocks, but mostly benefited from its rates, as despite the RBA cut its benchmark earlier this week, 1.5% is still far more attractive that record lows from other major economies."