NZD to its session low following the (yet again) poor business confidence data

ANZ's monthly business survey reported business confidence fell to an 11 year low:

• New Zealand data - August Business Confidence: -52.3 (vs. prior -44.3)

NZD has dropped a few points, and has dragged AUD down a little also.

Check the link out above for the inflation expectations data point in the survey. Its taken on more importance since the RBNZ let us know they are watching expectations closely now. The result was the lowest in the surv3ey since late 2016.

more RBNZ easing on the cars I reckon.