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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
AustraliaAustralia AiG Performance of Services Index climbed to 48.9 in November 2013
FMPMonthlyReleased December 2013
Australia AiG Performance of Services Index climbed to 48.9 in November 2013, released December 2013, up 1 from October's 47.9 reading.
Latest Release
48.900000
Actual
—
Consensus
47.900000
Previous
Sigmacast Track Record
Sigmacast track record will appear here once this indicator has been released 3+ times since Sigmanomics began tracking.
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| AUD/USD | ▲ Direct | +0.55 | FOREX | Bullish AUD | → View |
| AUD/JPY | ▲ Direct | +0.45 | FOREX | Bullish AUD | → View |
| AUD/NZD | ▲ Direct | +0.40 | FOREX | Bullish AUD | → View |
| XAU/USD | ▲ Direct | +0.35 | COMMODITIES | Watch | → View |
| NZD/USD | ▲ Direct | +0.35 | FOREX | Bullish NZD | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
AiG Performance of Services Index (Australia) was reported at 48.90 in December 2013. The reading rose from the previous value of 47.90.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with AUD/USD (Bullish AUD). A secondary relationship exists with AUD/JPY, positively correlated (Bullish AUD).
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Interest Rate Decision (Jun 16) and RBA Rate Statement (Jun 16).
Auto-generated from current model state · Refreshes on each release · Last update December 2013.
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AiG Performance of Services Index - AU
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About AiG Performance of Services Index — Australia
DEFINITION
The AiG Performance of Services Index is a widely recognized financial indicator that measures the performance of the services sector in Australia. It provides valuable insights into the overall health and growth of the country's service industry, including areas such as business activity, employment, and new orders. This index is closely monitored by investors, businesses, and policymakers as it reflects the current and future economic conditions of the services sector, which plays a significant role in Australia's economy.
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Dec 2013): actual 48.9. Prior reading (Nov 2013): 47.9. Before that (Apr 2013): 49.6.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print. Current dynamics are the primary headwind in the projection. This indicator correlates most strongly with AUD/USD (Bullish AUD, r=0.55) — a useful reference for forex-focused traders.