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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
AustraliaAustralia CommBank Composite PMI climbed to 57.8 in July 2020
FMPMonthlyReleased August 2020
Australia CommBank Composite PMI climbed to 57.8 in July 2020, released August 2020, up 5.1 from June's 52.7 reading. The reading matched the 57.9 consensus. The print is running well above the 12-month average of 37.72. Over the past 3 months, CommBank Composite PMI averaged 43.54, vs 35.41 in the prior 3-month window. The reading is in the 96th percentile of the trailing 24-month range.
Latest Release
57.8
Actual
57.9
Consensus
52.7
Previous
Median Absolute Error
±0.3
across last 10 releases
Last Call
Aug 2020
Predicted: 57.9
Actual: 57.8
Error: +0.1
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
CommBank Composite PMI (Australia) was reported at 50.50 in September 2020. The reading rose from the previous value of 49.40.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged 49.57, down from the prior three at 56.13.
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). Over the last 10 releases, the Sigmacast model's median absolute error is 0.30.
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Employment Change (Jun 18) and Full Time Employment Chg (Jun 18).
Auto-generated from current model state · Refreshes on each release · Last update September 2020.
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CommBank Composite PMI - AU
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About CommBank Composite PMI — Australia
DEFINITION
The CommBank Composite PMI is a widely recognized financial indicator that measures the overall economic health of the Commonwealth Bank of Australia. It combines data from various sectors, including manufacturing, services, and construction, to provide a comprehensive view of the bank's performance. This indicator is used by investors, analysts, and policymakers to assess the bank's strength and potential impact on the broader economy. With its timely and accurate data, the CommBank Composite PMI is a valuable tool for making informed financial decisions.
WHY THIS INDICATOR MATTERS
Sentiment surveys are forward-looking inputs that often lead hard data on output and hiring. Sharp swings can drive cross-asset repricing. 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 (Sep 2020): actual 50.5. Prior reading (Aug 2020): 49.4. Before that (Aug 2020): 48.8.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a lower reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with AUD/USD (Bullish AUD, r=0.55) — a useful reference for forex-focused traders.