Bitcoin 
Ethereum 
Tether 
XRP 
BNB 
Wrapped SOL 
USDC 
Lido Staked Ether 
TRON 
Dogecoin 
Prior was +1Confidence +2 vs 0 priorThis index fell to a post-pandemic low in May but has recovered back to May 2024 levels since.The quarterly Australia NAB Quarterly Business Survey offers a detailed snapshot of business conditions and sentiment across sectors, providing richer insights than the usual monthly release. It tracks indicators like profitability, capacity utilization, costs, and forward orders to gauge economic momentum and inflation pressures. Markets rarely move on it but it can flag turning points in growth so today’s bounce might be notable.
This article was written by Adam Button at investinglive.com.
đź’ˇ DMK Insight
The recent recovery in the NAB Quarterly Business Survey signals a rebound in Australian business sentiment, which could influence forex traders focusing on AUD pairs. With the index returning to levels seen in May 2024, this suggests that businesses are regaining confidence, potentially leading to increased investment and spending. For traders, this is a crucial indicator of economic health, especially as it contrasts with the earlier post-pandemic lows. If this trend continues, we might see a strengthening of the AUD against major currencies, particularly if the Reserve Bank of Australia (RBA) responds with a hawkish stance in upcoming meetings. However, it’s worth noting that while sentiment is improving, external factors like global economic conditions and commodity prices could still impact the AUD’s performance. Traders should keep an eye on key resistance levels in AUD/USD and related pairs, as a sustained break above these could signal further bullish momentum. Watch for any comments from the RBA regarding interest rates, as these could provide additional context for trading decisions.
đź“® Takeaway
Monitor the NAB Business Survey results closely; a sustained AUD strength could emerge if confidence continues to rise, especially against USD and JPY.
