The NAB business confidence indicator, which has a monthly and quarterly release schedule, gauges business owners’ outlook on current economic conditions and future activity.Earlier in the summer NAB announced that its quarterly business confidence indicator declined by two to +2 in April-June. The second quarter was associated with a broad slowdown in economic growth following a fast start to the year. Australia’s gross domestic product (GDP) expanded 0.5% in the second quarter, government economists reported last week in a preliminary estimate.
Aussie is currently being traded around 0.7540 level. Pair is likely to find support around 0.75 handle and resistance above 0.7570 area.