Anz Consumer Confidence Drops

 Anz Consumer Confidence Drops

Anz Consumer Confidence Drops To 82.1 During April

ANZ Consumer Confidence, which is a key metric from New Zealand, reached 82.1 in April with a change of -4.0. The current reading of the indicator is now sitting at the same levels seen in 2008.

But despite this, consumer confidence in New Zealand is still higher than what we saw during the COVID-19 pandemic.

Decline In Consumer Confidence

The consumers have also lowered their inflation expectations from 4.5% to 4.4% with a change of -0.1%. On the contrary, the inflation for housing prices jumped from 3.4% to around 3.5%.

The NZD/USD is currently trading in a tight range and is showing a lot of rough price action. For now, the pair is seen at the 0.5950 handle as the markets now await for next week's key releases.

ANZ Roy Morgan Consumer Confidence is of significant importance as it is one of the leading metrics to measure consumer confidence. In general, a lower reading is a sign that consumer confidence has taken a hit when it comes to economic activities.

In fact, a decline in the index is a sign that New Zealand's economy is going through a downturn. Conversely, a higher reading of ANZ consumer confidence is a sign that the consumers are optimistic about the economic prospects.

On a 1-year timeline, the NZD/USD is down by -3.33% while it shows a gain of 2.15% during the last six months. As for Friday's session, the NZD/USD declined by -0.17%, which suggests that the intraday action favored the USD bulls.

For the most part, a decline in the ANZ consumer confidence was not taken well by the investors of NZD/USD. So, when the NZD/USD closed Friday's session in the red, it was not a surprise at all.

Up ahead, investors will be looking for any hints from the RBNZ and the US Fed, the two central banks that can influence the direction of the NZD and the USD.

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