When are Aussie retails sales / trade balance and how could they affect AUD/USD?

Aussie retails sales overview

Retail sales are due today for the month of April scheduled for a 0130GMT.

Australia: Jul retail sales are expected by Westpac and the market to rise 0.2%.

The consensus among markets is for the retails sales to rise 0.2%. Analysts at Westpac explained that Q2 saw a rebound from a weather affected Q1 but the momentum is now fading as the consumer sentiment backdrop remains shaky. We also have the July trade balance that is expected to be +0.9bn. Westpac forecasts a greater surplus of 1.4bn with a lift in commodity prices boosting exports while imports decline on a higher AUD. 

How could retail sales affect AUD/USD? 

On a better retail sales print, the Aussie head to 0.8028, yesterday's high and a follow through to 0.8065, the YTD highs. A break there will open risk to 0.81 the figure.

If history is anything to go by, we have seen ranges as high as 50 pips on the release of this data, so, to the downside, the 4th Sep lows at 0.7942 guard the figure ahead of 0.7880 near 30th Aug lows at 0.7871.

Key notes:

• Forex today: dollar higher later in the session, mixed markets, and outlook
• Australian Dollar holds at the 80c level against the U.S Dollar
• Copper Leading the Australian Dollar?

About Aussie Retail sales:

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.