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The next major event on the economic calendar that could affect the AUD and NZD is the release of Westpac’s Consumer Confidence survey.
Immediately after the release, we could have a couple of dozen pip move in the market. But for long term FX traders, it’s relevant to get a better understanding of the future evolution of the AUD.
Consumer sentiment is one of the driving factors in inflation. And, from there, it could determine whether the RBA will take action to maintain price stability.
The central bank has been desperately trying to get consumers back into the market and get them spending. But, so far, it appears to not be all that successful.
The next set of data will help us see if there is some improvement. Or, it might increase the likelihood that the RBA will bring forward their next rate cut.
What Are We Expecting?
Last week, the National Australia Bank published its State Economic Over...
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