ANZ Roy Morgan Consumer Confidence indicator. Out each week.
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While I'm on Australia, comments from Westpac on the iron-ore rally and its impact on the AUD:
- 19% jump in iron ore prices overnight
- This has important implications for Westpac's G-10 FX model and the market's appetite for AUD
- Higher ore prices will boost AUD via long-run terms-of-trade valuation signal, a stronger yield signal and through sentiment channels
- Current iron-ore price consistent with AUD trading in a 0.76-0.77 range
- But questions on whether the gain is sustainable
