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Australia consumer confidence sharply rises, suggests upbeat start for households in 2017

Australia consumer confidence in the week ending 8 January jumped a sharp 5.9 percent, hitting the highest level in 15 weeks. The details were broadly upbeat, with views on economic conditions over the next 12 months and ‘now is a good time to buy a household item’ leading the gains.

Households’ views of economic conditions over the next 12 months bounced a solid 11.2 percent, almost entirely reversing last month’s decline. Household views of the economic outlook in the next five years rose 2.2 percent, reported ANZ in its daily report.

Households’ views towards their finances compared to a year ago rose 3.0 percent and now sits at the highest level since the end of September 2016, when the index reached a post-GFC high. Households’ views towards their future finances also improved, up 3.5 percent last week, and are in a strong upward trend, they added.

Meanwhile, the benchmark Australia's S&P/ASX 200 index traded 0.56 percent lower at 5,720 by 05:00 GMT, while at 5:00GMT, the FxWirePro's Hourly AUD Strength Index remained neutral at 56.94 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex

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June 27 08:00 UTC Released

ITConsumer Confidence

Actual

106.4 %

Forecast

106.2 %

Previous

105.4 %

June 27 08:00 UTC Released

ITMfg Business Confidence

Actual

107.3 %

Forecast

106.7 %

Previous

106.9 %

June 27 10:00 UTC 8181m

GBCBI Distributive Trades

Actual

Forecast

2 %

Previous

2 %

June 27 12:55 UTC 256256m

USRedbook MM

Actual

Forecast

Previous

0.7 %

June 27 12:55 UTC 256256m

USRedbook YY

Actual

Forecast

Previous

2.8 %

June 27 12:55 UTC 256256m

USRedbook MM

Actual

Forecast

Previous

0.7 %

June 27 12:55 UTC 256256m

USRedbook YY

Actual

Forecast

Previous

2.8 %

June 27 13:00 UTC 261261m

USTrade Balance SA*

Actual

Forecast

0.9 bln $

Previous

1.0 bln $

June 27 13:00 UTC 261261m

USCaseShiller 20 MM SA

Actual

Forecast

Previous

0.617 %

June 27 13:00 UTC 261261m

USTrade Balance SA*

Actual

Forecast

Previous

-0.297 bln $

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