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How will AUD React to Australian Retail Sales?
What will happen?
Australian monthly retail sales will be announced at 04:30 MT time (GMT+3) on Wednesday, July 21. This indicator reflects the change in the total value of sales in a country during a month at the retail level. In other words, it shows how much more stuff people bought during the reference month than in the previous one.
The last report showed that retail sales in Australia rose by 0.4% month-over-month in June 2021. This marked the third consecutive month of increase but at the slowest pace in this sequence. It’s interesting to see whether the tendency continues or not.
How to trade on Australian Retail Sales?
- If retail sales significantly increase in Australia, the AUD is likely to rise.
- If retail sales drop, the AUD can fall.
Instruments to trade: AUD/USD, AUD/JPY, AUD/NZD
Today traders await the European Central Bank to make a policy statement at 14:45 MT (GMT+3).
Australia will release employment change and an unemployment rate on July 15, at 04:30 MT time.
The Reserve Bank of Australia (RBA) will hold a meeting and announce changes to the monetary policy on August 3, at 07:30 MT time (GMT+3).
What events to follow and how to trade during the week of July 2-6?
EUR/USD retraced to 1.1870 after breaking out this level. It should be just a natural sell-off ahead of the further rally up.