The week is kicking off with key data events early this week, making for some potential volatility on Monday in Asia. April retail sales will be released at 01.30 and at the same time, Aussie Q1 business indicators, that includes various data to help guide GDP forecasts, including business inventories, total wages and company profits. Westpac looks for GDP growth of 0.9%qtr, 2.8%yr. Staying with retail sales, these had already disappointed in March, printing flat m/m, +3.1% y/y. The forecasts for today’s data release is for a 0.3% m/m gain in April. “While overall business conditions surveys are upbeat, responses from retailers indicate difficult conditions,” analysts at Westpac explained. Analysts at ANZ: We expect another weak result (-0.1% m/m) for retail trade in April, following the disappointing flat outcome in March. With house price growth continuing to soften, and higher petrol prices eroding household budgets, we expect the consumer to remain under pressure. There is an upside risk around the early Easter date, which may have depressed March sales relative to April. How could retail sales affect AUD/USD? AUD/USD is back above the 10 & 21-D SMAs while the long lower wick on the daily candlesticks supports the bullish outlook. 0.7605/20 is a key zone to the upside. To the downside, 0.7515 guards 0.7470 and the May’s low is eyed below there. Key notes: AUD/USD Forecast: uncertainty reigns, range persists: AUD/USD seen advancing modestly next week, but a large number of bears remain around waiting for their chance. RBA expected to remain on hold, Chinese trade balance data more relevant this week. 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. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next NZD/USD fumbling near Friday’s close as holiday markets see thin volumes FX Street 5 years The week is kicking off with key data events early this week, making for some potential volatility on Monday in Asia. April retail sales will be released at 01.30 and at the same time, Aussie Q1 business indicators, that includes various data to help guide GDP forecasts, including business inventories, total wages and company profits. Westpac looks for GDP growth of 0.9%qtr, 2.8%yr. Staying with retail sales, these had already disappointed in March, printing flat m/m, +3.1% y/y. The forecasts for today's data release is for a 0.3% m/m gain in April. "While overall business conditions surveys are upbeat, responses… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.