Australian consumer confidence improved to a 20-month high in February, driven by progress on inflation and potential rate cuts.

Consumer confidence in Australia has shown signs of improvement, with the Westpac-Melbourne Institute monthly survey hitting a 20-month high in February, coinciding with progress on inflation and potential interest rate cuts. However, consumer confidence remains below the neutral mark, and business conditions have slowed slightly. The Australian stock market is expected to dip at the beginning of the trading week, influenced by the US labor market report and speculation of interest rate cuts in Europe, the US, and potentially Australia.