When are Aussie retail sales and how could they affect AUD/USD?

Aussie retails sales overview

The calendar is a busy one for the Aussie today, starting with retail sales for the month of Feb and scheduled for 11:30am Syd/9:30am Sing/HK, (0130GMT).

In recent months, results have been less than impressive following a dubious end to 2017's impressive final quarter's comeback in the sector.  However, economists are looking for sales to accelerate modestly today, where alternative spending indicators have signalled strength in the economy the same period.

Analysts at Westpac have noted that retail spending has been volatile in recent months but highlighted that Jan’s muted 0.1% m/m gain left annual growth at only 2.1%. "We look for a better reading in Feb, up 0.4%. Note that the survey should include Amazon Australia’s sales," the analysts explained.

How could retail sales affect AUD/USD? 

MACDs and Slow Stochastics had been suggesting that a low was being marked out, however, a break below the 76.4 Fibo at 0.7651 (recent low) and a break below 0.7642 could set off a test of the 0.75 handle. On a break higher and through the rising weekly support line and a 200-D SMA just above 0.78 the figure,  0.7910 is open. 

Key notes:

• AUD/USD: where next, much to consider, eyes on break of 10-D SMA?
• AUD/JPY fighting back to 82.00 as risk sentiment improves
• AUD/USD analysis: still at risk of breaking lower

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.