When is Australia Retail Sales and how could it affect AUD/USD? – by anilpanchal7 Australia RetailSales AUDUSD Events RiskAppetite
Early Tuesday, the market sees preliminary readings of Australia's seasonally adjusted Retail Sales for December month at 00:30 GMT. Market consensus suggests a softer seasonally adjusted MoM print of -0.3% versus 1.4% prior, suggesting the lack of sustained improvement in economic activity.
Given the recently stronger Aussie inflation data and the previously downbeat comments from the Reserve Bank of Australia's cautious mood, not to forget the challenges to sentiment ahead of this week’s key data/events, today’s Aussie Retail Sales appear crucial for the AUD/USD traders.and Non-Manufacturing PMI, up for publishing around 01:00 AM GMT, also increases the importance of the Asia-Pacific economic calendar on Tuesday.
That said, the likely easy economics from Australia and China may add losses to the AUD/USD prices amid recently sluggish sentiment and doubts over the RBA’s next move, despite firmer inflation data. It’s worth noting, however, that a strong print will join the upbeat Aussie Consumer Price Index figures and could enable the Aussie pair to better position for this week’s volatile session.
Technically, a one-month-old bullish channel restricts AUD/USD pair’s downside near the 0.7000 round figure.
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