According to analysts at TD Securities, NAB Business Survey for August is going to be the key economic release for Tuesday’s Australian session.
Key Quotes
“The softening in the employment subcomponent from -5pts to 0 drove business conditions lower by 2 pts with retail and manufacturing under pressure. Tax cuts may help to boost confidence but we think global growth/trade concerns are more likely to have dominated.”
“The main components of the July survey that registered drops were trading conditions -1pt, employment -5pts, forward orders -3pts, and capacity utilisation from 82.1% to 80.9%.”
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