As per the Retail Sales monthly report, The seasonally adjusted estimate rose 16.9% in May 2020. This is followed a fall of 17.7% in April, and a rise of 8.5% in March 2020.

The following industries rose in seasonally adjusted terms in May 2020: Clothing, footwear and personal accessory retailing (129.2%), Food retailing (7.2%), Household goods retailing (16.6%), Cafes, restaurants and takeaway food services (30.3%), Department stores (44.4%), and Other retailing (9.4%).

New South Wales, Victoria, Queensland, New South Wales, Western Australia, South Australia  Tasmania, Australian Capital Territory and the Northern Territory shows seasonally adjusted terms in May 2020.

Ben James, Director of Quarterly Economy Wide Surveys said that The gradual easing of social distancing regulations, and the re-opening of physical stores, bolstered retail trade in May.

Main hotpot of the COVID-19 in Australia state of Victoria reported 66 new infections on Friday, down from Thursday’s rise by 77. Off the 66, 17 from known outbreaks, 1 hotel quarantine, 20 from routine testings, and 28 under investigation. There are 442 active cases of COVID-19 in Victoria, which are outside the marked hotspot areas.

Believing COVID – 19 as a conspiracy, Ten thousand refuse tests in Victoria. Meanwhile, New South Wales (NSW) registers no new cases and Queensland is set to ease restrictions.

 AUD/USD 4 Hour Chart:

Support: 0.6901 (S1), 0.6876 (S2), 0.6851 (S3).

Resistance: 0.6951 (R1), 0.6976 (R2), 0.7001 (R3).

All these catalysts favoring Aussie and Bank holiday in US attracts investors to buy AUD. We expect a Bullish trend for AUD/USD.