wrapper

Australian consumer confidence fell sharply in September

Wednesday, Sep 09 2015
Turmoil in financial markets and worries about the Chinese economy have hit consumer confidence hard. The Westpac/Melbourne Institute index showed consumer sentiment fell by 5.6% in September to 93.9 points, pushing well below 100 points, indicating there are more pessimists about the economy than optimists. Westpac chief economist Bill Evans said the solid fall was unsurprising considering the recent spate of weak economic news and heavy falls on financial markets. "This heightened concern around the world economy unnerved respondents about the labour market," he said.
 
Separate report on Home Loans showed that the number of commitments for owner occupied housing finance rose 0.3% in July. Analysts were forecasting 0.8% incline. In trend terms, the number of commitments for the construction of dwellings fell 0.9% and the number of commitments for the purchase of established dwellings fell 0.1%, while the number of commitments for the purchase of new dwellings rose 0.5%. In original terms, the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments fell to 15.4% in July 2015 from 15.8% in June 2015.
 
Aussie is currently being traded around 0.7050 area. Pair is likely to find support around 0.70 handle and resistance above 0.71 level. Later today, in the US session, JOLTS Job Openings figures are scheduled for a release.
 
More in this category: « German exports continue to rise UK Industrial Production unexpectedly decreased in July »

Latest from Editor

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.