Australian Q3 retail sales data out earlier showed sales growth slowing notably

We get monthly retail sales data from Australia, so the quarterly data often sails by barely noticed. Much like today.

Real retail sales (i.e. ex-inflation) +0.2% q/q

  • prior +1%

and +10% y/y (this is a reopening flow-through) from prior +7.5%.

AUD/USD is up alongside other FX with the small unwind of the USD strength from Thursday:

aud retail sales 04 November 2022

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