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 fell to -2.2 percent from last month’s 7.5 percent reading. For the full year to Janauary, the index was a -12.8 percent, seasonally adjusted. This decline has erased some of the 12.1 percent jump seen in the sentiment through the November and December period. It also suggests that initial gains due to the interest rate cuts and stimulus packages are beginning to wane.
Forex Technical Reaction: The Australian dollar has not reacted significantly to this release, instead the pair continues to trade in between the neutral LFB pivot point at .6554 and the S1 level at .6424.
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Australia Consumer Sentiment Falls As Confidence Wanes
Published 12/31/2000, 07:00 PM
Updated 01/20/2009, 06:56 PM
Australia Consumer Sentiment Falls As Confidence Wanes
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