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8 Oct 2013
Flash: Australian NAB business survey in focus - Westpac
FXstreet.com (Barcelona) - Later today Australia will publish the NAB business survey, expected to attract more interest than usual as is the first to include responses after the 7 Sep election, notes Sean Callow, FX Strategist at Westpac.
Key Quotes
"Also not to forget that in last week’s statement, the RBA noted the recent rise in consumer and business sentiment but wasn’t sure whether this would persist."
"The Aug survey was notable for a jump in confidence (+6 from -3) as the polls pointed to a clear win for the Coalition but a lacklustre reading on business conditions, -6 versus -7."
"If business respondents say they are more confident but their sales remain poor, will they invest more? Sep ANZ Job Ads survey is due at the same time; it has printed negative m/m for the past 6 months, consistent with the uptrend in unemployment."
Key Quotes
"Also not to forget that in last week’s statement, the RBA noted the recent rise in consumer and business sentiment but wasn’t sure whether this would persist."
"The Aug survey was notable for a jump in confidence (+6 from -3) as the polls pointed to a clear win for the Coalition but a lacklustre reading on business conditions, -6 versus -7."
"If business respondents say they are more confident but their sales remain poor, will they invest more? Sep ANZ Job Ads survey is due at the same time; it has printed negative m/m for the past 6 months, consistent with the uptrend in unemployment."