There is plenty coming up this week for Australian dollar traders, beginning today!
- AUD traders - Australia retail sales data due today - preview (is there an 'upside risk'?)
- AUD traders - Australia GDP data this week to be an FX mover (inside info coming today)
- AUD traders - heads up for data due today - preview for April retail sales
And, Tuesday brings data for:
- Q1 net exports
- Q1 public demand
Both of which will go into the GDP data (Wednesday)
Tuesday also brings the RBA May monetary policy decision and statement (another on hold expected).
Re Wednesday's GDP, ahead of key inputs for release today and tomorrow, Nomura have a quickie preview (bolding mine):
We expect a solid 1.0% q/q rise in Q1 GDP, bouncing back from 0.4% in Q4 2017.
- This reflects a solid contribution from net exports, led by higher resource export volumes, which were held up in Q4 by weather and an industrial dispute.
- We also see a below-average 0.4% q/q rise in private consumption, based on softer retail sales data,
- a solid rise in business investment
- and another increase in government spending.
- Partial data early next week, including company profits, net exports and government spending could cause consensus and our expectations to shift early next week
