AUD traders: Monthly business confidence data due from Australia Tuesday

Author: Eamonn Sheridan | Category: News

NAB Business Survey for June 2019 brings readings on business conditions and business confidence.

  • Business Confidence prior 7
  • Business Conditions prior 1
I posted a preview yesterday here:Adding some snippets from bank analysts:

ANZ:
  • Business confidence bounced in May post-election
  • business conditions fell to their lowest level since September 2014 and are sitting well below the long-run average
  • There is unlikely to be much improvement in conditions in June, with manufacturing and construction activity contracting based on Ai Group PMIs, but services activity has improved.
NAB:
  • will show whether the post-election pick-up in confidence has been sustained and if it has been reflected in conditions, which fell in May to their lowest level since 2014
  • the employment index will be important given the RBA's focus on the labour market. 
CBA:
  • survey for June and will include the impact of the RBA's June rate cut and any further post-election impact
  • The employment component of the survey will be important to watch given the importance that the RBA is placing on labour market outcomes


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