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The Motley Fool’s Scott Phillips says consumer and business confidence numbers from the Ozzie markets “will be all that matters” this week.

“It will tell us what businesses are expecting, these are forward indicators, Mr. Phillips told MM. These are a sense of what businesses will do. Confidence is really about what we’re prepared to spend.”

Two of the big four banks, NAB and Westpac, will release their confidence numbers on Tuesday and Wednesday.

“These two numbers will give us a real sense of where the economy is at.”

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