First up its weekly consumer confidence, due at 2230 GMT: Heads up for Australian consumer confidence data due today
Later, due at 0030, the National Australia Bank Business Survey for November. the twin headlines are business conditions and business confidence:
- Conditions, prior 21
- Confidence, prior 8
From a Westpac morning note:
- October's conditions index (which usually correlates closest with GDP) surged to a staggering +21, a record high.
- The confidence index was a more plausible +8
- So perhaps there will be some convergence in the two without altering the overall view of business optimism
From CBA's morning note:
- We expect the November business confidence survey to remain consistent with encouraging economic conditions which is AUD supportive
From ANZ's weekly note:
- We think business conditions most likely retreated slightly in November.
- Even a more material pullback would not be concerning, given conditions in the previous month hit the highest levels on record.
- Other business surveys suggest that conditions remained elevated in November, led by strength in the construction sector as infrastructure investment and non-residential building continue to pick up.
The data comes from NAB, they do not provide a preview (fair enough I suppose).