AUD traders: Monthly business confidence data due from Australia Tuesday

AUD traders: Monthly business confidence data due from Australia Tuesday Author: Eamonn Sheridan | Category: News

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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:

  • AUD traders – heads up for the monthly business confidence data due from Australia Tuesday

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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