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

Aussie retails sales overview

Retail sales are due today for the month of April scheduled for a 0130GM.T

The consensus among markets is for the retails sales to rise 0.3% vs -01% previous. Analysts at Westpac explained that cConsumer sentiment has weakened amid increased pressures on family finances, and business surveys report an underperforming retail sector. 

How could retail sales affect AUD/USD? 

On a better retail sales print, we could see the start of a reversal of the 24th May with 0.7480 as the first key target. If history is anything to go by, we have seen ranges as high as 50 pips on the release of this data.The 0.75 handle the ultimate objective targeting the double top at 0.7520.  To the downside, a break of the 0.74 handle would be highly bearish.

Key notes:

Analysts at Westpac explained that the recent pattern has been driven by significant moves in 'household goods' retail due to the closure of the Masters Home Improvement chain. 

AUDUSD: Prefer to sell into rallies - Jim Langlands FX Charts

"While I suspect that we are eventually heading lower, the momentum indicators are now pretty much neutral. This could change today if the CAPEX figure (exp +3%) and Retail Sales (exp +0.8%) are too far from expectations."

AUD/USD: equities lead the way - Valeria Bednarik, chief analyst at FXStreet

"In the 4 hours chart, the price was unable to surpass its 200 EMA and currently extends its decline below the 20 SMA, while technical indicators head south, the Momentum around 100 and the RSI at 42, all of which leans the scale towards the downside, particularly on a break below the mentioned Fibonacci support."

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.