The Australian dollar was down intraday but bounced later, rising above the opening level against some of its rivals.
The business confidence reported by the National Australia Bank rose from +5 to +6 in September, staying around the long-run average. The NAB business conditions edged up from +14 to +15, stabilizing after the decline earlier this year. Alan Oster, NAB Group Chief Economist, explained the increase:
The rise in the month was driven by an improvement in the employment index. This improvement was partially offset by a small decline in trading conditions, while profitability was unchanged.
AUD/USD opened at 0.7077, fell to the daily low of 0.7054 but bounced to 0.7086 as of 15:27 GMT today. EUR/AUD declined from 1.6226 to 1.6191 following the earlier rise to 1.6262.
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