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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessVIEW: Retail Sales Data Point To Consumer Slowdown, RBA Still To Hike
- ANZ has noted that the sharp fall in December retail sales was concentrated in the discretionary categories, such as clothing and department stores. Black Friday sales in November and increased travel spending account for some of the weakness but not all. ANZ expects consumption to slow over 2023 due to higher rates and negative real wages.
- According to CBA, the weak retail sales data reflects the impact of rising rates and inflation on households and that these pressures will continue this year. They expect the refi of mortgages to add to cash flow pressures in 2023.
- Betashares says that retail sales won’t stop the RBA from hiking 25bp on February 7 given further Q4 price pressures and the tight labour market. They also note that the RBA would welcome some cooling in spending.
- The Australian
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.