Separate report showed that in trend terms, the balance on goods and services was a deficit of $2,953m in November 2015, an increase of $172m (6%) on the deficit in October 2015. In seasonally adjusted terms, the balance on goods and services was a deficit of $2,906m in November 2015, a decrease of $341m (11%) on the deficit in October 2015. This was below expected deficit of $2,980m. Goods and services credits rose $160m (1%) to $26,764m,while debits fell $182m (1%) to $29,670m.
From Australia, on Friday, Retail Sales data was released. The latest Australian Bureau of Statistics (ABS) Retail Trade figures show that Australian retail turnover rose 0.4% in November 2015 following a rise of 0.6% in October 2015, seasonally adjusted. This was in line with market expectations. There were rises in household goods retailing (0.9 per cent), cafes, restaurants and takeaway food services (1.0 per cent), food retailing (0.2 per cent), clothing, footwear and personal accessory retailing (0.8 per cent) and other retailing (0.4 per cent). There was a fall in department stores (-0.8 per cent).
This week markets will be looking at:
ANZ Job Advertisements (Monday 1:30)
China Trade Balance (Wednesday)
Employment Change/Unemployment Rate (Thursday 1:30)
Home Loans (Friday 1:30)
