New Zealand Business Confidence Hits 30-Year High as Economic Outlook Improves 
EU Delays Mercosur Free Trade Agreement Signing Amid Ukraine War Funding Talks 
Singapore Growth Outlook Brightens for 2025 as Economists Flag AI and Geopolitical Risks 
U.S. Stock Futures Slip After CPI-Fueled Rally as Markets Weigh Economic Uncertainty 
RBA Unlikely to Cut Interest Rates in 2026 as Inflation Pressures Persist, Says Westpac 
Japan Inflation Holds Firm in November as BOJ Nears Key Rate Hike Decision 
Russia Stocks End Flat as Energy Shares Support MOEX Index 
Asian Currencies Slip as Dollar Strengthens; Indian Rupee Rebounds on Intervention Hopes 
Precious Metals Rally as Silver and Platinum Outperform on Rate Cut Bets 
Business conditions in Australia slipped to over 18-month low during November, following weakness in firms trading conditions with further reductions in firms’ reported profitability and employment in the month.
Australia November NAB business conditions rose to 5, down from 6 in October and business confidence rose to 5, from 4 in October. Conditions have seen a marked weakening over the second half of 2016, driven by a noticeable reduction in firms’ profitability. The profitability index has averaged 6.9 in the second half of the year compared to a very strong 11.9 over the first half.
The improvement in capacity utilization in November is more encouraging after a run of weak results. The trend rate of capacity utilization now looks to have bottomed, which is consistent with a steady unemployment rate. The small improvement in November is a positive result given the potential headwinds to confidence, including the response to last month’s US election.
Meanwhile, the AUD/USD traded at 0.75, down -0.07 percent, while at 5:00GMT, the FxWirePro's Hourly AUD Strength Index remained highly bearish at -139.54 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
