The data and high(low?)lights for the NAB business conditions and confidence survey are here:
AUD response has been rapid, a quick drop:
This time next week we get the Reserve Bank of Australia monetary policy announcement, the first for 2019
Due at 0330 GMT on Tuesday February 5
The RBA has been comfortably entrenched in a 'no change' to policy frame for years and years. If they hold the line on Tuesday they may be though of as being complacent. The data today is not good at all.
- CPI is under target, has been for years also.
- Employment, a bright spot, sure.
But hitting one of the mandates while other indicators slide is not good enough.
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Oh, on today's data from NAB. Confidence has been soft for many, many months. but its the 'conditions' that is a more objective measure. Now it has dumped it cements the concern.
