When is Australia Retail Sales and how could it affect AUD/USD? – by anilpanchal7 Australia RetailSales Events AUDUSD RiskAppetite
for June month at 01:30 GMT. Market consensus suggests a downbeat MoM print of 0.5% versus 0.9% prior readings, suggesting the lack of sustained improvement in economic activity after posting the softer outcome in May.
That said, Australia’s seasonally adjusted Retail Sales for June is expected to ease to 0.5% versus 0.9% prior, which in turn supports Australian Treasury’s downbeat economic predictions and can probe thehawks. The same could also trigger the AUD/USD pair’s pullback if Australia’s Q2 readings of the Export Price Index and Import Price Index came in softer than market forecasts of 19.7% and 1.9% in that order.
The Retail Sales released by the Australian Bureau of Statistics is a survey of goods sold by retailers is based on a sampling of retail stores of different types and sizes and it''s considered as an indicator of the pace of the Australian economy. It shows the performance of the retail sector over the short and mid-term. Positive economic growth anticipates bullish trends for the AUD, while a low reading is seen as negative or bearish.
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