7:30pm NY Time AU Retail Sales Forecast 0.4% Previous -0.2%
ACTION: BUY 1.0% SELL -0.2% AUD/USD
“Measures the value of sales at the retail level. A rising trend has a positive effect on the nation´s currency because Retail Sales make up a large portion of consumer spending, which is a major driver of the economy and has a sizable impact on GDP. Traders payclose attention to Retail Sales because it is usually the first significant indicator of the month that relates to consumer behavior and is susceptible to surprises.”
Based on the market reaction we were able to exit the trade and break even on AUD Retail Sales.