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NAB Strong; AUD Still Negative

AUD

A strong NAB Business Conditions figure has helped bring AUD/USD off its lows, but the pair still in negative territory for the day. Last down 9 pips at 0.7615 after touching lows of 0.7604 before the data. March Business Conditions rose to 25 from 17 last month, hitting a record high, profitability rose 8 points also a record high while the employment index rose 7 points, to a record high. Business confidence did drop 3 points to 15.

  • The print comes even as official in Australia begin removing some of the fiscal support seen during the pandemic, suggests the underlying economy is healthy.
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