So Much News to Follow This Week
Hello, and welcome to the last week of August. We found the best news and collected the most impactful events for you to stay on the top of the market. Let’s go!
Australian households are stable notwithstanding many risks
The weekly indicator of consumer confidence from ANZ rallied by 0.7% to 121.6 the previous week, which turns out to be the highest level since the end of January, when the world stock markets reached their maximum. The result indicates a sixth straight week of surge.
It drops a hint that notwithstanding the numerous problems associated with the prospects for consumption, Australian households are quite good now.
Some of the recent successes in consumer confidence can be explained by the reduction of income tax, announced in the federal budget earlier this month.
However, the previous week's surge occurred notwithstanding a less positive round of data on wages and employment.
Despite this, the sub-index of views on household finances managed to ascend by 2% over the next 12 months to a three-month maximum of 110.1. Besides this, views on future financial conditions rallied for the second week in a row, and both readings are still above their long-term average.
Views on a more considerable economic surge dived a bit, but measures for both current and future economic conditions went down steeply in a week.
The positive trend is encouraging, considering that Australian households keep focusing on the problem of high household debt in the conditions of cooling house prices. Moreover, they are trying to do this with higher energy costs provoked by the recent leap in gasoline prices, while wage surge remains close to record minimums.
By the way, ANZ analysis also pointed to a glimmer of hope in dismal salary data last week in the form of higher bonus payments.
Simultaneously, data from the labor market demonstrated a leap in unemployment, which is a sign of an excessive recession that does not bode well for higher wages.
However, updated for weekly volatility, trend data clearly indicate that Australian households are starting to feel more optimistic.
Similar
Finally, Some Good Events to Trade
Jackson Hole, ten PMI releases, and the BRICS summit. This week will be full of market movements, and we will be there to trade them. Get ready, and let’s roll!
RBA Surprised the Markets
Australian central bank unexpectedly left the rate at the same level. The German economy is slowing down. What's happening in the markets? Let's look at our new digest.
Latest news
News for The Week
US stock markets started falling, while the US dollar is rising. What to expect from
Inflation Is in Focus Again
Oil prices are rising and Russia banned the export of its petrol. What's happening in the markets?
Fed’s Rate Pause and UK Inflation Slows
Today's main event for the markets is the FOMC Interest Rate Decision, where the US regulator is widely expected to keep the interest rate at the same level of 5.5%.
