I just posted on the weak AUD this session with a snippet there on retail sales
November retails sales from the stats bureau here in Oz are due 11 January 2019 at 0030GMT
- expected +0.3% m/m, prior also +0.3%
Preview via RBC:
- Despite headwinds from a weaker housing market, consumption has been holding up reasonably well of late and consumer confidence also remains strong. November's figures will also include the impact of Black Friday and Cyber Monday sales, with online shopping events gaining in popularity and likely boosting sales further.
- We see a reasonably firm 0.4% m/m gain.
- The y/y pace drops to 2.7% (from 3.6%) due to particularly strong Nov 2017 on one-offs including the iPhone X release.
- Looking forward, we see some risk that reasonably strong reads in Oct and Nov are reversed in the next report for December, with some consumption perhaps brought forward into November
