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Australia November preliminary retail sales +7.0% m/m (vs +2% expected) – Forex Update
The preliminary data is, of course, subject to later revision. For now, though, comes in at a whopping +7.0% m/m
expected +2.0% m/m,
Further growth was the expectation given indications of high Black Friday sales, along with the reopening of retail in Melbourne (Australia’s second-largest city) after lockdown. The result is a blow out though. December should be strong with the holiday season, but the virus outbreak in Sydney could be negative. On that, it is being brought under control quite quickly, the past 3 days new cases figures have been 30, 15, 8, so it’s looking on the improve.
AUD shrugs it off, barely moving and sitting on tits tight range session low.
Source. Forex live