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:
- AUD traders – heads up for the monthly business confidence data due from Australia Tuesday
Adding some snippets from bank analysts:
- 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.
- 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.
- 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