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11 Nov 2014
Australia's Oct business confidence up next - Westpac
FXStreet (Bali) - Australia's Oct business confidence from NAB is the key release in Asia today, with the rest of the day quiet as the US market is closed due to 'Veterans Day', notes Sean Callow, FX Strategist at Westpac.
Key Quotes
"Australia’s second-tier data week continues with the Oct business confidence survey from NAB (11:30am Syd/8:30am Sing/HK). The confidence index was +5 in Sep, close to its 20 year average but a low since Aug 2013 i.e. the lowest since the election bounce. The conditions index (which has a better correlation with growth) was +1 in Sep, below the 20 year average of 4.4."
"Asia’s data calendar is low key: Philippines Sep trade and Malaysia Sep IP. US bond markets are closed for the Veterans Day holiday but the NYSE and most of the private sector is open."
Key Quotes
"Australia’s second-tier data week continues with the Oct business confidence survey from NAB (11:30am Syd/8:30am Sing/HK). The confidence index was +5 in Sep, close to its 20 year average but a low since Aug 2013 i.e. the lowest since the election bounce. The conditions index (which has a better correlation with growth) was +1 in Sep, below the 20 year average of 4.4."
"Asia’s data calendar is low key: Philippines Sep trade and Malaysia Sep IP. US bond markets are closed for the Veterans Day holiday but the NYSE and most of the private sector is open."