# What do soft housing and retail data mean for the AUD/USD? | IG AU

> Australian housing credit growth slowed to 0.3% in December, and retail sales fell 3.9% in the month, the largest monthly drop since August 2020. The RBA was widely expected to lift its cash rate by 25bp to 3.35% at its next meeting.

- Date: 2023-01-31 · published 2023-01-31T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/38025-what-do-soft-housing-and-retail-data-mean-for-the-aud-usd-ig-au
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Softer housing and retail data reduce the case for further RBA tightening, which can weaken the Australian dollar. The effect on feed commodities is indirect.

## Read by commodity

- AUDUSD: bearish ▼

## Sources

- ig.com: https://www.ig.com/au/news-and-trade-ideas/what-do-soft-housing-and-retail-data-mean-for-the-aud-usd--230131

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.