The Westpac Consumer Sentiment Index rose by 2.5% to 107.7 in November, falling short of a forecasted 3.8% rise. In October, the Index had jumped by 11.9% to 105.0.Advertisement
The Aussie Dollar moved from $0.72854 to $0.72822 upon release of the figures. At the time of writing, the Aussie Dollar was up by 0.03% to $0.7286.
The Australian dollar went up 0.3% to 0.7308 against the greenback on Wednesday at around 06:30 AM GMT, the highest since late September. Sentiment was lifted by reports that Australians could start receiving virus vaccinations from March next year as the federal government’s vaccination program timeline is on track. On the data front, Australian consumer sentiment hit its highest in seven years, amid the ongoing success across the nation in fighting the pandemic. However, gains were capped by concerns that the size of the US fiscal stimulus in a divided Congress could be much smaller than it would be under a Democratic-controlled Congress.