The AUD/USD looks to be coming under more pressure after retail sales came out below expectations.

The result was 0.0% MoM vs 0.3% expected. The AUD/USD is down -0.25% on the day and well below the 0.7200 level now.

It’s a massive week of data for the AUD/USD with GDP and the RBA interest rate decision still to come.

Company profits were up, on the back of what has been a strong earnings season in Australia. Earnings season finished on Friday and the ASX is flat to start the trading week.