Retails sales preview – What to expect in AUD/USD?

By FXStreet FXStreet (Guatemala) – AUD/USD has been sold-off in a hurry at the start of 2016 with hardly a moment’s respite. The Chinese crisis is dominating markets and the data events to some extent have not had the impact they otherwise might have had. However, today’s retail sales may draw in a good deal of markets attention before the Yuan fix while the Australian economy’s performance will be scrutinised in respect of the RBA’s reluctance to cut interest rates.

Chinese events recap

The Chinese open was the catalyst yesterday in Asia when stocks (CSI300) were 2% down then 5% down, then trading was halted on the circuit breaker before finally ceased altogether when 7% down. In the case of the Shanghai Composite, it is now 11.7% down year to date. Yesterday was the shortest trading session in China’s stock market 25 year history.

China stocks preview: What to expect today?

AUD/USD & retails sales

Retails Sales growth is expected at 0.4% vs 0.5% last when the performance picked up m/m for December. However, today’s retail sales may draw in a good deal of markets attention before the Yuan fix while the Australian economy’s performance will be scrutinised in respect of the RBA’s reluctance …read more

Source:: FX Street