There's a wide range of estimates for the Australian data due today – surprise incoming?

<p>Australian retail sales data for August is due today at 0130 GMT, which is 8.30pm US Eastern time:</p><p>While the consensus is +0.3%, the range of estimates is wide at:</p><ul><li>-0.1% to +1.0% </li></ul><p>While the screenshot highlights the data as of high importance I'm not sure the release will have much, or a lasting, impact on spot AUD. Sure, it'll go into the mix for the economic and RBA outlook (the Bank meets on October 3, on hold is widely expected) but as for immediate impact, unless it's a good distance from the consensus (and especially if its outside either of those outliers above) then the main focus for AUD traders will remain on offshore developments (looking at you UST yields). </p>

This article was written by Eamonn Sheridan at www.forexlive.com.