New Motor Vehicle sales indicator is released by the Australian Bureau of Statistics and shows the change in the number of cars and trucks sold domestically.
It is being viewed as a second tier indicator, however, it represents a sign of consumer confidence because rising demand for durable goods shows that consumers are confident in their future financial position and feel comfortable spending money.
The most important things to take into consideration when looking at the New Motor Vehicle Sales indicator in Australia are:
- release date: monthly, about 16 days after the month ends;
- release time: 01:30 GMT during the Asian trading session;
- second tier data;
- low volatility expected;
- actual > forecast = positive for currency;
- actual < forecast = negative for currency.