Release Explanation: This is a survey of the current state of the business sector in Australia. Based on a survey of hundreds of small to large sized companies, the National Australia Bank delivers monthly and more comprehensive quarterly reports from the gathered data. This comprehensive survey primarily provides insight into the state of the Australian economy and puts forth leading indicators that signal its future direction. The survey's findings, if unexpected, have the power to move markets directly.
Trade Desk Thoughts: The National Australia Bank released the business confidence report this evening.  Business confidence in Australia has plummeted to all time lows as companies continue to cut back spending as a result of the slowing global economy. The index has been in negative territory since January of 2008.
Forex Technical Reaction: The aussie had quite a jump from the employment related releases, breezing past the neutral pivot point which had held the pair lower since just past the new trading day start.