This economic indicator does not tend to have an immediate FX impact
- The 4 week moving average of it is around 120.4
The fall comes after a good few weeks of gains.
I'm blaming ..... oh gimme a sec and I'll think of something ...
Remarks from ANZ's Head of Australian Economics, David Plank
- "Consumer Confidence pulled back this week after a series of strong reports. Talk of electricity blackouts and a proposed rail strike in Sydney may have weighed on overall sentiment. It is also possible that the New Year return to work was a factor for some.
- The sharp fall in sentiment around households' current finances may reflect a jump in petrol prices across Melbourne and Brisbane amidst an environment of low wage growth.
- Despite the weekly fall, this sub-index sits well above its long term average, as does the headline index.Looking past the weekly volatility, we expect sentiment to remain supported by a strong labour market and a solid outlook for economic activity in 2018."
