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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
AUSTRALIA DATA
NAB business confidence for July rose to +1.8 from a downwardly-revised -0.6, and is above the Q2 average. It seems to have stabilised zig-zagging around zero since Q4 2022. Business conditions fell to 9.8 from an upwardly-revised 10.6 in June and have been stable around this level for three months. Stable average confidence and solid conditions show continued economic resilience.
- Most components were fairly stable with trading up 0.5 points and profitability down 0.1. Employment intentions are down from their heights over the last year but they remain solid at 5.5 (down from 5.7) and above the series average, signalling that while labour demand has slowed layoffs are not yet on the horizon.
- Forward orders rose to-1 from -2.1 but are below average of +0.9. Exporters were more positive and sales rose to +4.8 from -3.6 in June, above the historical average.
Australia NAB business confidence vs conditions
Source: MNI - Market News/Refinitiv
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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