ANZ"s Roy Morgan New Zealand Consumer Confidence fell to 83.0 from the previous month's 84.9 as the measure of consumer sentiment retreated in June, sticking close to multi-year lows in the sentiment index.
As noted by ANZ's Chief Economist Sharon Zollner, "consumer pessimism is consistent with the broader economic data that shows households are tightening their belts in the face of restrictive monetary conditions, a stagnant housing market, and a softening labour market." Chief Economist Zollner continued, "slowing CPI inflation and expectations that fixed mortgage rates are likely to decline from here will be providing some relief, but this is clearly only a partial offset to the relatively lengthy list of headwinds."
Economic Indicator
ANZ – Roy Morgan Consumer Confidence
The Consumer Confidence released by the ANZ is a leading index that measures the level of consumer confidence in economic activity. A high level of consumer confidence stimulates economic expansion while a low level drives to economic downturn. A high reading is seen as positive (or bullish) for the NZD, while a low reading is seen as negative (or bearish).
Read more.Last release: Wed Jun 26, 2024 22:00
Frequency: Monthly
Actual: 83
Consensus: -
Previous: 84.9
Source: ANZ
About New Zealand's Roy Morgan Consumer Confidence
The Consumer Confidence released by the ANZ is a leading index that measures the level of consumer confidence in economic activity. A high level of consumer confidence stimulates economic expansion while a low level drives to economic downturn. A high reading is seen as positive (or bullish) for the NZD, while a low reading is seen as negative (or bearish).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
AUD/USD: Next upside target is the 200-day SMA
AUD/USD managed to stage a firm comeback after reaching new YTD lows near 0.6350, regaining the 0.6500 region ahead of the key interest rate decision by the RBA early on Tuesday.
EUR/USD: Extra gains need to clear the 1.1000 barrier
Another dreadful day saw the Greenback retreat to seven-month lows and EUR/USD surpass, albeit briefly, the psychological 1.1000 hurdle in quite an auspicious start to the week.
Gold struggles around $2,400 as concers ease
After falling below $2,370 earlier in the session, Gold recovered back above $2,400 in the American session. The persistent USD weakness and the sharp decline seen in the US Treasury bond yields help XAU/USD limit its losses for now.
Bitcoin could repeat post-COVID style rise: Bitwise
In a memo to investors on Monday, Bitwise Chief Investment Officer Matt Hougan noted that the recent crypto market crash has provided an "opportunity" for Bitcoin to replicate a similar move to its rise post-COVID lockdown.
RBA Interest Rate Preview: To hold or not to hold
The Reserve Bank of Australia will announce its monetary policy decision at 04:30 GMT. The central bank is expected to maintain the Official Cash Rate unchanged at 4.35% amid stubbornly high inflation.