The Australian Dollar inched up against the Greenback, as the report showed higher business confidence and the Conditions Index remaining at a strong level. The AUD/USD added 8 base points or 0.11% to start the Tuesday session with a solid upmove, touching the 0.7790 mark.
The NAB monthly survey revealed that Australia's Business Confidence Index climbed to 7 points in September, following a steep decline in the prior month when firms were concerned by geo-political tensions with North Korea. In addition, data showed that business conditions held steady at the 15 mark. Overall, the Australian companies' outlook remains upbeat, as the figures indicated that the business sector was doing well in the reported period.
| Historical Data Table: NAB Business Confidence | |||||
| Date | 13.06.2017 | 11.07.2017 | 08.08.2017 | 12.09.2017 | 10.10.2017 |
| Actual | 7 | 9 | 12 | 5 | 7 |
| Forecast | - | - | - | - | - |
| Initial Reaction on Main Pairs | |||||
| Open Price | Close Price | % Change | |||
| AUD/JPY | 87.564 | 87.615 | 0.06% | ||
| AUD/USD | 0.77636 | 0.77718 | 0.11% | ||
| EUR/AUD | 1.51293 | 1.5119 | -0.07% | ||
| GBP/AUD | 1.69308 | 1.69225 | -0.05% | ||