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Westpac consumer confidence on the rise in October

FXStreet (Bali) - Westpac/Melbourne Institute Consumer Confidence Index (seasonally adjusted) for the month of October came at +0.9% MoM to 94.8 against a -4.6% prior at 94.0.

Bill Evans, Chief Economist at Westpac, notes: "Households, who reacted negatively to the Commonwealth Government’s May Budget, may have been encouraged by recent announcements that a number of budget initiatives have been set aside for the time being.”

Australia Westpac Consumer Confidence Index: 94.8 (October) vs 94

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GBP/USD taking it on the chin - FXStreet

Valeria Bednarik, chief analyst at FXStreet explained that the pound was hit in the chin by worse than expected local inflation, down to 1.2% yearly basis, diluting chances of a rate hike in the UK.
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