AUD making a fresh session low

The news for the Australian dollar today has been the monthly consumer sentiment survey

Which has tracked to a low not seen since September of 2017

• Australia Westpac Consumer Confidence for March: -4.8% m/m (prior +4.3%)

Weekly figures for consumer confidence gave a heads up for this data today.

AUD/USD has dropped from just under 0.7080 early in the session here to lows circa 0.7050

• NZD/USD has seen falls alongside, around 0.6860 to circa 0.6835

The WPAC survey released today blames the drop on the poor GDP figures (for Q4 2018) which compounded worries about slow growth during the back half of 2018.

Despite the gloom, ANZ is not joining in on the RBA rate cut calls:

• ANZ not joining in on the RBA rate cut calls - say the bank is on hold for 2019 & 2020