Investing.com - The Australian dollar weakened after the National Bank of Australia said business confidence eased in October and business conditions stayed the same as September, dashing for now expectations that companies were poised to expand rapidly on record-low interest rates.
AUD/USD traded at 0.9344, down 0.17%, after the NAB survey that showed conditions fell back for a 3.5-year high in October to +5 from +12 for a leading indicator said to be closely watched by the Reserve Bank of Australia to assess prospects for the economy.
NAB however said that Australian business confidence still remained at elevated levels suggesting businesses may still be buoyed by positive housing price trends and low borrowing rates, but pushed back its forecast for one more cash rate cut from the current 2.5% to May 2014 from February 2014 expected before.
USD/JPY traded at 99.27, up 0.12%, on a mild resumption of strength in the Asian trading day after investors overnight locked in gains from Friday's surprisingly strong October jobs report and sold the unit for profits.
On Friday, the Bureau of Labor Statistics reported that the U.S. economy added 204,000 jobs in October, far surpassing expectations for a 125,000 increase.
On the Japanese data from for Tuesday is the October consumer confidence survey at 1400 local time (0500 GMT) expected to show a reading of 46.3, up from 45.4 in September.
EUR/USD held steady at 1.3404 in early Asian trade.
AUD/USD traded at 0.9344, down 0.17%, after the NAB survey that showed conditions fell back for a 3.5-year high in October to +5 from +12 for a leading indicator said to be closely watched by the Reserve Bank of Australia to assess prospects for the economy.
NAB however said that Australian business confidence still remained at elevated levels suggesting businesses may still be buoyed by positive housing price trends and low borrowing rates, but pushed back its forecast for one more cash rate cut from the current 2.5% to May 2014 from February 2014 expected before.
USD/JPY traded at 99.27, up 0.12%, on a mild resumption of strength in the Asian trading day after investors overnight locked in gains from Friday's surprisingly strong October jobs report and sold the unit for profits.
On Friday, the Bureau of Labor Statistics reported that the U.S. economy added 204,000 jobs in October, far surpassing expectations for a 125,000 increase.
On the Japanese data from for Tuesday is the October consumer confidence survey at 1400 local time (0500 GMT) expected to show a reading of 46.3, up from 45.4 in September.
EUR/USD held steady at 1.3404 in early Asian trade.