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

Aussie retails sales overview

Retail sales are due today for the month of Sep scheduled for a 00:30GMT.

Markets expect retails sales to rise 0.4% in a relatively weak recovery from falls in Jul-Aug totalling 0.6%, as noted by analysts at Westpac. "That is then seen to leave Q3 real retail trade flat (Westpac -0.1%) as discounting, particularly in the food sector (40% of retail), provides a slight offset."

How could retail sales affect AUD/USD? 

With the greenback already on the backfoot and US yields anchored from political announcements from the US overnight, on a better retail sales print, we could see the continuation of the minor correction of the Sep supply from 0.8125 and an extension of the upside from the 200-D SMA at 0.7693. If history is anything to go by, we have seen ranges as high as 50 pips on the release of this data and that would bring an initial target of the 21-D SMA at 0.7773. 

Key notes:

Asian FX Outlook: A frenetic week ends with US NFP  

AUDUSD: Sits near the day’s high of 0.7729   

AUD/USD analysis: correction underway  

Forex today: dollar volatile on tax bill announcements, BoE sent cable off a cliff

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.