Retail sales for October
- retail sales ex inflation QoQ for 3Q 1.6% versus 0.5% estimate
- retail sales ex inflation YoY 4.5%. The previous quarter came in at +2.9%.
- The gain is the largest since the 4Q of 2018 (at 1.7%).
- The prior month was revised lower to 0.2% from 0.3%
- fuel outlet sales -0.4%
- Core sales +1.8%
A much better-than-expected reading for the retail sales for the 3rd quarter.
The price of the NZDUSD moved above its 100 hour moving average at 0.64133 on the release, but remained just below its 100 day moving average at 0.64219.
The 0.64133 is now close risk with a move above - and staying above - the 100 day MA is the key upside target
