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Forex Flash: A 0.4% m/m rebound in Australia retail sales eyed - Westpac

By FXstreet.com,  January 08, 2013, 06:49:00 PM EDT

FXstreet.com (Barcelona) - Australia's retail sales report is scheduled at 00.30 GMT, and as Westpac FX strategist Sean Callow notes, "is always worth noting." Mr. Callow expects November data to print a 0.4% m/m rebound from the very disappointing flat result in Oct.

"One wild card in Nov is the "Click Frenzy" online shopping promotion, which retailers mostly viewed as a positive despite media focus on technical problems. The RBA's Oct rate cut should be a small positive for spending overall. This survey often surprises, reflected in economists' forecast range of 0.0% to 0.7%" Sean adds.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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