Australia run of official data for November continued today with Retail Sales for the month of November, Month on Month (MoM).
+0.9 vs +0.4 (expected) and 0% prior. (AUD rallies 15 pips at the time of writing).
"The 0.0% MoM headline reading in Oct was another disappointment given the middle-income tax rebates that came into effect on 1 July, especially with the detail showing spending on discretionary items (e.g. clothing & apparel, household goods and department stores) was negative."
analysts at Westpac explained, adding that the consensus for Nov was 0.4%mth, "if only thanks to a rebound from Oct and the growing popularity of “Black Friday” sales which could see Nov benefit at the expense of Dec."
Source : FX Street