New Zealand's ANZ Roy Morgan Consumer Confidence in May rebounded to 84.9 from the previous 11-month low of 81.9. May's thin rebound still leaves aggregate consumer confidence near pandemic lows, but consumer inflation expectations also eased to 3.8% from 4.4%, printing at its lowest level since October of 2020.

Market reaction

The Kiwi (NZD/USD) is trading on the low side of near-term consolidation in the early Friday market session, pushed to an intraday bottom as broad-market flows bolster the Greenback. NZD/USD is trading near 0.6100 amidst a stubborn sideways pattern.

About 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).