Nick Nasad
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Macro Data: Aussie Retail Sales Show Spunky Consumer Spending

Aussie retail sales came in stronger than expected for the month of November at 0.7%.

Not sure if it changes the picture that much for the RBA but the last 4 months of data have been fairly strong. It's the 4th month in a row that retail sales beat expectations. A stronger consumer should help to give the RBA some confidence to keep rates steady, and prevent another round of rate cuts. The Aussie has been on the backfoot, and one data point is not likely to change it, but if Aussie data starts to surprise on the upside in the coming weeks, it could help change the macro narrative around the AUD/USD pair.