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Tuesday, 09 December 2014
Daily Fundamental Analysis

AUD/USD Daily Forecast - 10 December

From Australia, yesterday, NAB Business Confidence figures were released. Latest NAB Business Confidence survey showed decline from previous month revised level of 5 to 1. This followed no change in October.  Orders held up reasonably well, which reflects well on near-term demand. The fall in conditions was driven by all three components (sales, profits and employment), although the last remains the weakest, pointing to only very modest growth in employment –insufficient to prevent a further rise in the unemployment rate. But while last months spike was relatively broad based, the pull back in November was much more mixed across industries –concentrated in retail, manufacturing and service industries.

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