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Analysts at ANZ note that the Australia’s ANZ-Roy Morgan Consumer Confidence reversed the previous week’s loss as all the sub-indices were positive.

Key Quotes

“The survey coincided with the election, so much of the gain likely reflects the impact of the surprise win by the Coalition.”

“Current financial conditions rose by 0.5%, while future financial conditions were up 1.2%.”

“Economic conditions, which were responsible for much of the previous week’s fall, were also in positive territory. Current economic conditions were up 3.8%, compared to a fall of 8.1% previously, while future economic conditions were up 0.9%.”

“The ‘time to buy a household item’ also rose significantly; it was up 4.1% to its highest level since the end of March. The four-week moving average for inflation expectations was down by 0.1 ppt to 4.1%.”