Release Explanation: This figure measures the level of consumer confidence and is an average of five indexes measuring different aspects of consumer fiscal health. This is one of the few indicators that are entirely expectation based. Confidence figures are often leading indicators for the consumer spending and the economy as a whole. The headline figure is percentage change in the index value from that of the previous month.
Trade Desk Thoughts: The consumer sentiment indicator for Australia jumped to 7.5 percent from last month’s 4.3 percent reading. The Westpac report stated that the 300 basis points in interest rate cuts by the Reserve Bank of Australia over the past three months has helped substantially. Four out of the five components saw an increase with the sharpest seen in family finances. The economy by one year ahead grew to 5.3 percent, up from a -0.1 in November. Meanwhile a five year economic outlook fell by 3.7 percent when compared to Novembers 15.7 percent increase.
Forex Technical Reaction: The Australian dollar has not reacted to this release, instead the pair continues to oscilate around the neutral LFB pivot point at .6578.
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Australia Consumer Sentiment Rises for Second Consecutive Month
Published 12/31/2000, 07:00 PM
Updated 12/09/2008, 07:25 PM
Australia Consumer Sentiment Rises for Second Consecutive Month
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