ANZ's New Zealand Roy Morgan Consumer Confidence slipped another 4 points to 82.1 in April, declining to the indicator's lowest levels since 2008. Despite the decline, New Zealand consumer confidence remains higher than it did at the height of the pandemic.

Consumer inflation expectations eased to 4.4% from 4.5%, though housing price inflation expectations increased to 3.5% from 3.4%.

Market reaction

NZD/USD continues to trade in a tight but rough range as markets gear up for the early Friday session, stuck near the 0.5950 level.

About the ANZ Roy Morgan Consumer Confidence

The Consumer Confidence released by the ANZ is a leading index that measures the level of consumer confidence in economic activity. A high level of consumer confidence stimulates economic expansion while a low level drives to economic downturn. A high reading is seen as positive (or bullish) for the NZD, while a low reading is seen as negative (or bearish).