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Australian Economy Gaining Momentum

The Australian economy is gaining some momentum but growth remains sluggish. The latest Westpac/Melbourne Institute Leading Index, which indicates the likely pace of economic activity three to nine months into the future, rebounded from negative territory to rise 0.45 percentage points to 0.43 per cent in April. Westpac senior Economist Matthew Hassan said the lift …

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Australian Consumer Confidence Jumps on Budget and Rate Cut

The most widely-watched consumer sentiment survey has jumped 6.4 per cent in May following an interest rate cut and the federal budget.  The Westpac-Melbourne Institute index hit 102.4, which indicates that optimists narrowly outnumber pessimists – it is the first positive reading since February.  Consumer sentiment is now running around long run averages. The findings …

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AUD/USD Trading Around 0.80 after RBA Minutes

The Reserve Bank of Australia (RBA) left open the possibility it might cut interest rates further, minutes from its May 5 meeting showed, triggering a slump in the Australian dollar on Tuesday. In the minutes from the meeting that saw the RBA cut rates to a record low of 2 percent, the central bank acknowledged …

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