Westpac says its Leading Index continues to show stalling momentum.
Comments from analysts at the bank:
The six-month annualised growth rate in the Westpac-Melbourne Institute Leading Index, which indicates the likely pace of economic activity relative to trend three to nine months into the future, slowed to 0.03% in June from 0.11% in May.Main drag coming from commodity prices, sentiment and hours worked.
Detail suggests some near-term fragility if recent supports from financial markets, interest rate expectations and US growth fall away.
Meanwhile, AUD/USD little changed on the session here so far:
This article was written by Eamonn Sheridan at investinglive.com.