Article source: Piponomics
Can’t get enough of ’em news reports to trade? Here’s another top-tier economic release coming your way in the form of Australia’s retail sales report for May! Hey, that rhymes!
This report is up for release in tomorrow’s Asian trading session and usually generates a strong forex reaction among Aussie pairs then. If you’re looking to grab quick pips off this event, let’s go through our usual Forex Trading Guide routine, shall we?
What is this report all about?
The Australian retail sales report is basically a measure of whether our mates from the Land Down Under are spending or not. Every surfboard, bottle of sunblock, and boomerang that is purchased will be tallied under retail sales. With that, it gives a picture of how the consumer sector is faring and if they made a positive contribution to overall economic growth.