This weekly data release tends not to move AUD much at all.
Survey conducted 28 March to 3 April.
ANZ comments from the report:
- “Inflation expectations (IE) dropped 0.6 percentage points last week to 5.8 per cent as petrol prices dropped sharply,”
- “We think this explains much of the lift in sentiment, though the focus on relieving cost of living pressures in the Australian Federal Budget may also have played a part.”
- “The fall in petrol prices is likely due to lagged effects of the drop in crude prices since March 8 which have declined by nearly 20 per cent since then.”
- “The cut to petrol excise announced in the budget may, depending on volatile oil prices, see petrol prices drop further in the coming weeks. This could potentially lower IE and lift consumer sentiment further.”
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The focus from Australia today is the Reserve Bank of Australia announcement due at 2.30pm Sydney time., which is 0430 GMT.
- RBA monetary policy meeting Tuesday 5 March
- Reserve Bank of Australia monetary policy meeting Tuesday 05 April 2022 - preview
- Reserve Bank of Australia monetary policy meeting this week - "non event"
- RBA 'shadow board' is "strongly in favour of keeping the cash rate steady"
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AUD in waiting mode:
