AUD Retail Sales

Sunday at 9:30 PM EST Australian Retail Sales will be released.

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Every month the Australian Bureau of Statistics releases Retail Sales. Retail Sales statistics are released as the change in the value of retail sales nationwide for the month.

With seven red-tag Australian news events being released next week, the retail sales are heading the charge. This could increase their impact. They will be released Sunday at 9:30pm EST.

We are expecting to see increased market volatility in September. One reason why market volatility may increase in September is that the U.S. Elections are drawing near. Also, further Euro recessionary action could be seen.

Another event for the AUD we don’t want to miss is, Tuesday the quarterly GDP info will be released. The GDP forecast is 0.9% but if the Gross Domestic Product surprises us with strength, I think we could see noticeable bullish strength with the Australian Dollar.

Don’t forget about Forex Factory where you can see a calender of news events.

See the chart to the right to find AUD/USD critical support levels. [/column]
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To briefly follow up on yesterday’s article concerning U.S. Federal Reserve Chairman Bernanke’s speech, there was no direct mention of QE3 action to take place. Bernanke’s speech “Monetary Policy since the Onset of the Crisis” was released this Friday morning. Bernanke did say, similar to his August 1st statement said: “Taking due account of the uncertainties and limits of its policy tools, the Federal Reserve will provide additional policy accommodation as needed to promote a stronger economic recovery and sustained improvement in labor market conditions in a context of price stability.” [/column]

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