AUD - What to watch in the Australian business confidence data due Tuesday

Coming up soon we get a speech from the RBA:

• AUD traders heads up for an RBA speaker soon (on monetary policy)

And the inputs for AUD traders will not stop there, due later, at 0130GMT is the National Australia Bank Business Survey for July, with the two key headlines:

• Business Confidence prior 2
• Business Conditions prior 3

A snippet via ANZ:

• Business conditions could deteriorate further below the long-run average in July. According to Ai Group performance indices for July, construction and services fell to their lowest levels in six years and four-and-a-half years respectively. The one positive was manufacturing, which moved back into expansionary territory.

CBA note also the watch the report today as it will reflect the July RBA rate cut.

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FOR AUD, the downside is vulnerable if the numbers in the survey are weak again. I note earlier the RBA is watching how the data evolve while in easing mode.