AUSTRALIAN RETAIL SALES (FRI)

Retail Sales are seen pulling back to 0.4% in February from the prior month’s 1.1%. Analysts highlight the volatility in the data around the turn of the year, with the sharp fall in December (-2.1% Y/Y) followed by a surge in January. $Westpac Banking Corp(WBC.AU)$ highlights that “The noise reflects difficulties the ABS is having adjusting for shifts in seasonal patterns through Nov-Dec-Jan.” The desk also cites its Westpac Card Tracker which points to weakness. The bank expects a 0.2% rise in Retail Sales.