Australia's Westpac Consumer Confidence...>

AUSTRALIA: Australia's Westpac Consumer Confidence Index rose to 97.0 from 92.8

this month. In the accompanying commentary, Westpac write the following: "This

rise in the Index follows a sharp 5.5% fall in October. The pattern of

confidence falling in response to a rate cut and recovering when the RBA remains

on hold repeats what we saw earlier in the year when the Index fell by 4.1%

following the July cash rate cut only to recover 3.6% in August, when the RBA

left rates unchanged. This result continues to support the general view that

consumers are somewhat unnerved by the announcement of low rates and media

controversy around the banks' responses." 

- Re: the labour market, "The Westpac-Melbourne Institute Unemployment

Expectations Index rose 3.6% to 136.5 in November, up 13.4% on this time last

year and the highest reading since June 2017. The readings are consistent with a

slowdown in jobs growth and steady increases in unemployment and underemployment

rates over the year ahead." Australian labour market report is due tomorrow.