When is Australia Retail Sales and how could it affect AUD/USD? – by anilpanchal7 AUDUSD Australia RetailSales Events RiskAppetite
30 GMT. Market consensus suggests a softer MoM print of 0.6%, suggesting the lack of sustained improvement in economic activity.
Australia October retail sales should begin to exhibit a clearer impact from interest rate rises, though it will likely be mild .AUD/USD remains pressured towards 0.6700 after beginning the week’s trading with a downside gap, holds lower ground near 0.6720 by the press time. Covid and political fears emanating from China appear to exert downside pressure on the Aussie pair as of late.
Technically, a convergence of the 100-Day Moving Average and an upward-sloping support line from November 04, around 0.6690, restricts the short-term AUD/USD downside.About Australian Retail Sales Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.
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