The data earlier ozz Australia is here, and it really did not justify too much optimism:
- Australia Home loans (December): -6.1% m/m (vs. expected -2.0%)
- Australia January business conditions 7 (prior 2) & business confidence 4 (prior 3)
Yes, business conditions and confidence improved … but NAB tempered the bounces with their less than upbeat commentary and also by slipping in a potential rate cut call (see the buisness confidence post for this).
AUD response:
For more on the NAB RBA call:
