Alright, looks like we got rid of some weak retail the last few weeks and we are set to make new all time highs next week.
Retail sales continue to increase in the USA on a monthly basis.
Shutdowns across Victoria are probably a boon for the likes of Afterpay since it will likely bring in new customers in regional areas who are now purchasing online and are discovering they don't need to use their credit cards to pay for goods over many weeks.
I don't think Sydney shutdowns, if they occur, will impact Afterpay too much since it's not even really a major market. AFAIK, NSW is third behind VIC and QLD in terms of APT customers. And also, Gladys is pro-business unlike the Labour premiers. She won't shutdown Sydney unless she really has to.
From the WSJ:
"
The data firm Affinity Solutions, which analyzes credit-card spending, said overall retail spending, excluding car purchases, rose in early August compared to July, though consumers cut back on certain categories such as furniture, health-care products and construction materials."
"The $600 weekly unemployment benefit expired July 31.Last week, President Trump announced a series of executive actions that, among other things, would continue to provide an enhanced jobless benefit to Americans."Even with that action, Ms. Markowska expects spending to decline in August since it could take weeks to get the checks out. “Even though the payments will be retroactive, it will be too late to salvage August,” she said."
Consumer spending has held up. One big factor is that aggregate household income has actually grown since the pandemic began in March, boosted by federal stimulus checks of as much as $1,200 for individuals and the enhanced unemployment benefit." As is usual, the trend is still up. That's as technical as you need to get when you analyse charts, folks.
