Aussie Set for Retail Data And US Focus For Payrolls And Trade
Technical Analysis - | 04 Oct 2018
The Aussie will focus on the Retail Sales data today after the trade data last night was better than expected. AUDUSD found a bid on the back of the date but has seen underperformed in the European session despite some US dollar downside. Again the focus is on the greenback in this battle, but a strong retail number could help the pair find support.
The Australian trade balance number came in at 1.6 billion on Thursday beating expectations of 1.4 billion, however it wasn’t enough to push the safe havens out, with both the Yen and Dollar remaining on top. It’s hard to put your money on Aussie at the moment such is the domination of the trade conflict. A further issue is the Chinese economy and its need for stimulus to battle the debt issue in the country.
With trade still a massive issue we will have to look at tomorrow's trade numbers out of the US for any signs that Donald Trump’s trade policy is starting to hurt closer to home. Volume is likely to be light though through the Aussie session with Chinese markets finishing their week long holiday. Japanese markets have also seen light volume, so the Aussie could sign of the week with a whimper.
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