AUD/USD Daily Forecast – 11 October

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Tuesday, Oct 10 2017

AUD/USD Daily Forecast – 11 October

From Australia, yesterday, NAB Business Confidence figures were released. Conditions and confidence amongst Australia's struggling retailers have taken another backward step according to the NAB's respected monthly business survey. Business conditions are back near pre-GFC highs despite ongoing weakness in retail sector. Business confidence pulled back from sharp decline in August. Forward orders and employment conditions eased back last month, while sales and profitability picked up.

Retail proved to be the stark exception to generally stronger conditions across the corporate landscape in September. While most industries enjoyed above-average conditions, retail continued its downward trend and fell back into negative territory last month. Overall business conditions were steady over the month, holding at just below the historic peak recorded before the GFC. Business confidence pulled back from the surprise slump in August to be marginally above the long-term average.

There will be no major data releases from Australia tomorrow. In the US session FOMC Meeting Minutes will be published.

Figures to watch:

FOMC Meeting Minutes (Wednesday 20:00)

More in this category: « EUR/USD Daily Forecast – 10 October GBP/USD Daily Forecast – 11 October »

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