Australia: Retail sales surprise - TDS

Sandeep Kanihama FXStreet Contributor

Australia’s November retail sales popped +1.2%, the largest monthly increase since Feb 2013 (mkt +0.4%, TD +0.2%), notes the research team at TDS.

Key Quotes

“All retail categories, except Department stores recorded a pick-up in sales and retail sales were also up in all states. Although the ABS has suggested the pick-up in retail sales was influenced by iPhone X sales and Black Friday promotions, today’s firmer retail sales print is likely to support the view that the bounce in Oct was not a one off, particularly given that the rise has coincided with strong pick-ups in consumer sentiment and building approvals. Exactly what the Dr (Lowe) ordered!”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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