June’s Westpac-Melbourne Institute consumer sentiment survey has arrived as follows:
Westpac Consumer Confidence
+6.3% to 93.7, recovers all of the lockdown loss.
AUD has been muted on the data, perhaps not as a strong, a rebound hoped for considering the index rebounded 16.4% in May, following an extreme fall in April. The index is still noy far off from the GFC lows.
“Over the last month, we have seen a further easing in domestic restrictions and the growth of coronavirus cases remains low. Developments abroad have been less positive, particularly in the US, where poorer public health and economic outcomes have been met with civil unrest”, analysts at Westpac had observed leading into the data today.
Description of the Westpac Consumer Confidence
The Westpac Consumer Confidence released by the Faculty of Economics and Commerce Melbourne Institute captures the level of sentiment that individuals have in economic activity reflecting respondents’ evaluations of their family finances over the past and coming year, expectations about the one-year and five-year economic conditions and views about current buying conditions for major household items. Generally speaking, a high reading is seen as positive (or bullish) for the AUD, whereas a low reading is seen as negative (or bearish).
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