Australian Westpac Consumer Confidence....>

AUSTRALIA: Australian Westpac Consumer Confidence Index rose by 3.6% M/M in

August. Little to no reaction observed in AUD crosses and Australian FI space.

- In the accompanying commentary, Westpac noted that "superficially this result

comes as somewhat of a surprise given that the survey was conducted against a

turbulent backdrop." However, they also said that "the result does come in the

aftermath of an unexpected 4.7% fall in the Index in June/July that came despite

consecutive rate cuts from the RBA and the restoration of political certainty

following the May Federal election."

- Re: Australian labour market Westpac said that "consumers' job loss fears

eased slightly in August. The Westpac-Melbourne Institute Unemployment

Expectations Index improved slightly recording a 0.8% decline to 133.3." As a

reminder, a key Australian labour market report is due tomorrow.

- In concluding remarks, Westpac said that they expect two more 25bps rate cuts

from the RBA this cycle, in October and February.