Australian weekly consumer confidence survey - collapses to 90.7 (prior 96.5)

ANZ comments on the result:

• plunged 6.0%
• its sharpest fall since the mid-January Omicron surge
• This is the lowest confidence for the start of a tightening cycle since inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term targeting began in the 90s and may mean slower tightening than the market is pricing.

Sentiment is back to a 20 month low.

Ugly pic:

ps. Also from the survey company, Roy Morgan, their latest poll (conducted April 1 to May 1) result for the Australian election (coming on May 21):

• the opposition party (ALP) 55.5% (up 1% on the week)
• incumbent coalition (Liberal-Country) 44.5%

With consumers in such a dour mood polls indicating a change of government are hardly surprising. Time for some fresh air it seems.