The consumer sentiment survey from Westpac is expected to be influenced by the upcoming election (due Saturday 18 May).
- Also in there could well be some lingering consumer response to the budget.
- The survey was conducted from the 6th to the 11th of May, so another factor is the RBA 'on hold' decision (back on May 7).
- Petrol price surged
And the background is weak wage growth and house price declines. Sad ( ;-) )
So, plenty of moving parts.
There is no survey of analysts for an 'expected.
- Prior was +1.9% to 100.7
At 100.7 it gives optimists the upper hand, but only barely. Given all the negatives it seems likely today will not show much improvement and could even slip back under break even at 100.
Due later (0130GMT) is data on wages, likely to be more of a focus for the forex market. I'll have more to come on this separately.
