Shortly after the markets close in the US on Tuesday, the latest round of Australian retail sales data will be released. After disappointing HSBC manufacturing PMI data came out of China last night, the Australian dollar is trading down versus most of its major counterparts as we head into Tuesday’s US afternoon session. Will the upcoming retail sales data compound the current bearish momentum in the pair, or can we get a better-than-expected result to initiate a temporary upside correction? In either case, what do analysts expect the release to show, and what are the levels to watch in the event of any surprise? ... (full story)