Aussie data dump: Feb NAB business confidence/conditions survey + Home Loans send AUD lower
|Feb NAB business conditions/confidence
The RBA will be among those watching the Feb NAB business conditions and confidence survey that has just been released as follows:
- Conditions 4 vs 7 prior exp 5
- Confidence 2 vs 4 prior exp 3
"In H1 2018, both the headline confidence and conditions indexes were well above long term averages, but both fell substantially in H2 2018," as analysts at Westpac pointed out. "Both ticked up slightly in Jan, the conditions index to +7 (versus a 25 year average of +6) and confidence to +4 (25 year average also +6)."
Home Loans
Australia Jan housing finance data was expected to show the number of owner-occupier approvals declining -2% and the value of investment loans -- 1.5% following the concerning -8.2% on total approvals in Dec.
The data arrived as follows:
-2.6% vs 1.0% exp and -6.1% prior.
As a result of the data dump, AUD/USD has dipped lower as the RBA will be pressured to cut rates on an accumulation of such worsening economic outlooks from such data misses as this.
About the National Australia Bank Business Confidence survey
The National Australia Bank Business Confidence is a survey of the current business condition in Australia. It indicates the performance of the overall Australian economy in a short-term view. A positive economic growth anticipates bullish movements for the AUD, whereas a negative growth is seen as bearish. is a survey of the current business condition in Australia. It indicates the performance of the overall Australian economy in a short-term view. A positive economic growth anticipates bullish movements for the AUD, whereas a negative growth is seen as bearish.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.