Heads-up for the data due from Australia at 0130GMT – Retail sales and Trade balance

A heads-up for the data due from Australia at 0130GMT

• Trade balance for July, expected is -1750m, prior was -1683m
• Retail Sales for July, expected is +0.4% m/m, prior was +0.6%

The retail sales data comes in the wake of improving business and consumer confidence:

• Australia – National Australia Bank business confidence for June: 8 (vs. prior was 7)
• Australia – National Australia Bank business confidence for July: +11 (vs. prior was 8)
• Australia – Westpac Consumer Confidence Index (s.a.) for July: +1.9% m/m (prior was +0.2% to 93.2)
• Australia – Westpac Consumer Confidence Index (s.a.) for August: +3.8% m/m (prior was +1.9%)
• Australia – ANZ Roy Morgan weekly Consumer Sentiment for the week ended July 27: 116.2 (prior was 113.5) (up >10% over the past 3 weeks)