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AUD/USD bounces off session lows after Australia Q1 business conditions hit a record high according to the NAB survey, business confidence slipped to stayed fell to 17 from a revised 19 last time out, while business conditions rose 12 points to 32. Alan Oster, NAB Group Chief Economist: "Business conditions were still in negative territory in Q3 2020, and now, three quarters later, they were at a record high, a testament to how rapid the recovery has been from last year's recession".
- The ABS trade balance report showed exports of goods in June rose 8%, while imports also rose 8%, the trade surplus printed $13.271bn. The ABS also released payroll data and noted payroll jobs fell by 1% due to increased COVID-19 restrictions in most states and territories.
- AUD/USD last down 10 pips at 0.7350 from session lows of 0.7342.