The data published for AUD shows a decrease in NAB Business Confidence from 1 to 0, indicating a decline in business sentiment. Additionally, Building Approvals have also decreased from -10.1% to -1.0%, suggesting a slowdown in the construction sector. These data points may signal weakening economic activity in Australia, which could lead to lower consumer spending and investment. This could have a negative impact on the AUD, as investors may shift their funds to safer currencies.
Currency sentiment: Bearish
Sentiment timeframe: Short term