Aussie retail sales preview – what to expect in AUD/USD?

By FXStreet AUD/USD, despite being rejected on the 0.77 handle, the unit remains within the ascending 1st March channel and in positive territory. There has, however, been a major set-back after the greenback managed a decent bid due to the positive surprises in the ISM data, underpinned by a solid nonfarm payrolls report as well and ahead of an important week for the Aussie given the forthcoming RBA. However, we start with retail sales.

After a quiet spell from Australia’s calendar, the price has been allowed to continue climbing, mostly due to a better performance in commodities and a weaker greenback of late. However, things start to mount up this week in respect of data for Australia and the AUD/USD has started the week out with a drift to the downside in early Asia, having recovered from just below the 0.76 handle when the bulls picked up the Aussie after the nonfarm payrolls sell-off.

AUD/USD: buying dips but lack of follow through – FXStreet

Australia retail sales expectations

Retail Sales s.a. (MoM) – Australia

For today, Australia Feb retail sales are going to be the first piece of data for the week and these will be released at 11:30am Syd/9:30am Sing/HK. Analysts …read more

Source:: FX Street