US economic data will dominate Friday’s trade with the release of retail sales figures before the open of the US stock market
Consensus forecasts expect the Commerce Department to announce retail sales rose 0.7% in December following a 0.1% increase in November. In the USA, consumer spending accounts for 70% of GDP growth which makes this report a closely watched indicator of overall economic activity.
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Earlier this week, the ABS announced Australian retail sales rose by .2%, missing expectations for the first time in four months.
