ANZ Business Confidence: -42.4 vs -54.1 expected
- New Zealand's ANZ Business Confidence: Actual -42.4 vs expected -54.1 and prior -53.5.
- ANZ Activity Outlook Oct: -3.5 (prev -1.8).
New Zealand's ANZ Business Confidence data has been released, a second-tier data release, but nonetheless, a key input for the Reserve Bank of New Zealand's model for determining the adequate level of there interest rate decision.
Indeed, as analysts at Westpac explained, "the kiwi has been a little sensitive to the monthly ANZ business confidence survey lately so it is worth noting at. The Sep reading on the activity outlook was -1.8, an 11 year low. The confidence index was a dismal -53.5."
The data arrived as follows:
- New Zealand's ANZ Business Confidence: Actual -42.4 vs expected -54.1 and prior -53.5.
- ANZ Activity Outlook Oct: -3.5 (prev -1.8).
NZD/USD has been muted on the release, as traders look ahead to the Chinese data in an hour's time.
About Business Confidence
The Business Confidence released by the ANZ shows the business outlook in New Zealand. The Business Confidence allows analysis of economic situation in the short term. Increasing numbers indicates increases in business investment that lead to higher levels of output. Thus, a high reading is seen as positive (or bullish) for the NZD, while a low reading is seen as negative (or bearish).
Author
Ross J Burland
FXStreet
Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.
