NAB business survey shows historically bad conditions and confidence for business in March:
- NAB thus expect a recession of unprecedented speed and magnitude for the Australian economy over the next three quarters.
AUD (and kiwi alongside) popped higher:
I suspect the strength is something to do with this headline:
And also that the NAB survey would have been expected to be not good (there is no survey of expectations for it though).
As I said in that post the market is hungry for good news, or even potentially good news.
- S&P emini equity futures also higher on the session.
- USD/JPY is languishing,. I thought it too might have received a boost but none apparent so far.
