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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Greg Holden is the Chief Market Analyst at ForexYard. Greg uses his detailed knowledge of fundamental and technical analysis to provide some of the leading market forecasts in the forex world today. A guest lecturer at forex symposiums and Chief Editor of ForexYard's analysis center, Greg brings highly detailed and easy-to-use market analyses to his clientele. He has been published on ForexYard's Trading Blog and affiliate websites. Greg holds degrees in Political Science and Economics from Missouri State University, as well as a Masters degree in Middle Eastern History.
