Australia: Confidence shakes off post Budget blues – ANZ

Sandeep Kanihama FXStreet Contributor

Analysts at ANZ point out that for the Australian economy, the ANZ-Roy Morgan Australian Consumer Confidence has bounced back, rising 1.9% last week, thereby reaffirming their prognosis that the post Budget dip in consumer confidence was likely noise.

Key Quotes

“Current finances were up 2.1%, after three consecutive falls. Future financial conditions inched up marginally by 0.1%.”

“Current economic conditions rose by 4.2%, to the highest level for this year. Future economic conditions were up by a 1.5%.”

“The ‘time to buy a household item’ rose by 1.7%. Four-week moving average inflation expectations were stable at 4.0%. The weekly reading softened to 3.9%, however, reversing much of the prior week’s uptick.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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