
The central banks' meetings will highlight the week as well as the PPI release
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.
The central banks' meetings will highlight the week as well as the PPI release
Goldman Sachs turns bullish on China, news from ECB, and Twitter's drama - everything you need to know in one place!
Good day for all traders out there! We prepared a gold analysis and a bunch of other news for you to enjoy! Here's what you should know:
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
2022 was rough: inflation, energy crisis, and plenty of other controversial situations…
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
Beginner Forex book will guide you through the world of trading.
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.