When is Australia Retail Sales and how could it affect AUD/USD? – by anilpanchal7 AUDUSD RetailSales RiskAversion Events RBA
suggests a softer seasonally adjusted monthly print of 0.4% versus 1.9% prior, suggesting a reduction in the pressure for the Reserve Bank of Australia to act faster to tame inflation woes.
It should be noted that comments from Assistant Governor at the Reserve Bank of Australia, Luci Ellis, scheduled for 04:15 AM GMT, also increase the importance of the Asia-Pacific economicOur Westpac Card Tracker suggests the underlying trend in retail slowed further in Feb, dipping into negative on a rolling 3mth basis. That said, the volatile monthly profile since Nov, and the big decline in Dec in particular, mean the Feb month is still likely to see a gain vs Jan. A 0.
It should be noted, however, that Wednesday’s Aussie Consumer Price Index also increases the importance of today’s Retail Sales data as any disappointment from the figures could prod the firmer inflation-led run-up of the AUD/USD pair. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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