Coming up from Australia on Thursday 6 December 2018

  • October trade balance, expected AUD +3bn, prior AUD 3.017bn
  • And October retail sales, expected +0.3% m/m, prior +0.2%

Thoughts on what to expect on retail sales, this via ANZ:

  • We expect retail sales to have risen by 0.2% m/m in October, reflecting the 3.1% rise in petrol prices, the fall in consumer confidence and ongoing house price falls. It is also possible that consumers delayed spending ahead of Black Friday/Cyber Monday sales, which are gaining prominence in Australia. A result in line with our expectations would see annual sales growth moderate a touch, to 3.4% y/y from 3.7% y/y.