3 Jul 2013
Aus retail sales/trade balance next: Impact on AUD/USD
FXstreet.com (Barcelona) - The AUD/USD is just an hout hour away from confronting two potential rate moving indicators, one being the Australian Retail Sales and the other the Trade Balance, both scheduled at 1.30GMT.
AUD/USD tone remains weak
As Valeria Bednarik, Chief Analyst at FXstreet.com, notes "While not first line data, both Retail Sales and Trade Balance will likely take their toll on Aussie today, as the currency remains weak following past Asian session RBA governor Stevens’ dovish tone."
Slightly upbeat data expected
Expectations are pointing for a mild recovery in both indicators this month. If these positive projections are confirmed, "the AUD can gain some ground, at least in the short term, particularly against weakened JPY." However, Bednarik warns not to expect the bounce to extend much. On the flip side, "worse than expected numbers, will continue to feed the dominant bearish trend, particularly against stronger USD" Bednarik said.
AUD/USD tone remains weak
As Valeria Bednarik, Chief Analyst at FXstreet.com, notes "While not first line data, both Retail Sales and Trade Balance will likely take their toll on Aussie today, as the currency remains weak following past Asian session RBA governor Stevens’ dovish tone."
Slightly upbeat data expected
Expectations are pointing for a mild recovery in both indicators this month. If these positive projections are confirmed, "the AUD can gain some ground, at least in the short term, particularly against weakened JPY." However, Bednarik warns not to expect the bounce to extend much. On the flip side, "worse than expected numbers, will continue to feed the dominant bearish trend, particularly against stronger USD" Bednarik said.