Australian January consumer confidence -1.3% m/m (prior +2.7%)

Westpac Consumer Confidence / Melbourne Institute monthly index.

• Down 1.3% on the month to 81.0

Its been below 100, ie pessimists outnumbering optimists, since February 2022.

WPAC comment:

• The latest January read is in the bottom 7% of all observations since the survey was first run in the mid-1970s.

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Earlier today we had the weekly survey with drop also:

• Australian weekly consumer confidence survey falls to 84.4 (prior 84.8)

AUD/USD is lower, but its on the back of a small dricft out of 'risk' due to missile attacks in the Middle East. Link and more info can be found here:

• Oil futures have opened higher after Iran's missile attacks into Iraq