Due at 0030GMT, and a focus for the AUD market today …
- National Australia Bank business confidence for December, prior was 1
- National Australia Bank business conditions for December, prior was 5 (from 13 in October. The November survey result for these indicators was seemingly the last straw for NAB … they changed their call on Australian interest rates afterwards, and now see two cuts of 25 bps in both March and August this year).
While this data is a focus for the markets, especially in the lead up to the Reserve Bank of Australia meeting in February (the 4th), which seems to be a ‘live’ one (I am still reckoning on no change, but with diminished confidence in the wake of the moves from other central banks in the past week or so), the AUD exchange rate is being subject to flows more dependent on decisions made in response to global developments than onshore economic data.
