Source: ForexYard
The National Australia Bank Limited (NAB) published its monthly report on business confidence this morning, with news echoing what many traders were already assuming. Confidence in the Australian economy has ebbed over the past 30 days, with many indicators supporting a moderate downturn in growth activity.
The Australian dollar (AUD) has seen sizeable downticks in value against most of its currency rivals. This week is likely to remain so with news such as this morning’s accumulating into a long-term analysis that shows Australia entering the economic doldrums.
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