Honeymoon over: NAB business confidence fades | Forex Factory

  • Honeymoon over: NAB business confidence fades

    From theage.com.au

    Business confidence has fallen back towards its pre-election levels as optimism fades and conditions remain weak, a monthly private survey has found. Firms were less positive in October after a surge of sentiment in September, as soft forward indicators pointed to a tepid outlook for domestic demand, the National Australia Bank's business survey on confidence and conditions found. "Forward indicators do not paint a favourable picture for the outlook, with capacity utilisation falling to a four-year low and the level of forward orders, capex and stocks also declining," NAB chief economist Alan Oster said in a ... (full story)

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Pip Anon
Nov 11, 2013 6:58pm
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Quoting Greener
"Despite the weakened figures, Mr Oster said the bank was pushing out its next interest rate cut forecast to May 2014 as it appeared the Reserve Bank was comfortable with its current monetary policy settings."

RBA still wants AUD lower
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Greener
Nov 11, 2013 6:51pm
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"Despite the weakened figures, Mr Oster said the bank was pushing out its next interest rate cut forecast to May 2014 as it appeared the Reserve Bank was comfortable with its current monetary policy settings."
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eqshack
Nov 11, 2013 6:44pm
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aint that great?
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Pip Anon
Nov 11, 2013 6:57pm
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Quoting Greener
still positive though
So aren't the Aussie bull economists lol
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Greener
Nov 11, 2013 6:48pm
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still positive though
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trendpal
Nov 11, 2013 9:04pm
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Do you guys really think AUD fundamentally is weak?

http://www.bloomberg.com/news/2013-11-11/iron-ore-rallying-as-cargoes-to-china-reach-record-commodities.html

If the RBA still wants AUD lower, then China should send a big Christmas gift to them.
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ali-bhai
Nov 11, 2013 8:41pm
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look for reversal in 0.9320/25 with 0.9300 as stop if stopped out then 0.9225 with 0.9200 as stop for 1.0150 target

good Luck.

btw good r/R trade.
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Trader#EFF0
Nov 11, 2013 11:48pm
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Yes they have very large lower class in AUD still... growing drug problems.. Not in top tier economies
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