Australia: Consumer confidence retains positive momentum – ANZ

Sandeep Kanihama FXStreet Contributor

Australia’s ANZ-Roy Morgan Australian Consumer Confidence rose 0.8%, continuing the upward momentum of the previous week, notes the research team at ANZ.

Key Quotes

“The gain was led by a lift in sentiment surrounding economic conditions – both for the next year and the long term.”

“Current finances gained 1%, while future financial conditions fell 3.9% and, in contrast to current finances, are below average.”

“Current economic conditions revived from its lowest point in four years, gaining 3.9%. Future economic conditions also strengthened and gained 2.7%. Both remain well below average.”

“The four-week moving average of inflation expectations was down 0.1ppt to 3.9%, as the weekly reading softened to 3.9% from 4.1%.”

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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