Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Data released early on Tuesday showed that NAB Business Confidence jumped to 6 vs 3 last, while the business conditions numbers for March hit fresh 8-year high, coming in at 12 vs 8 previously in February.
"The business sector outlook looks much more robust now, with the uncertainty of early 2016 fading and suggesting that the economy remains in solid shape." noted ANZ in a report.
The details of the report were generally positive. Business profitability also posted a strong increase, which continues to point toward further jobs growth. Capacity utilisation continued to rise and now sits at the highest level in over five years. Spare capacity has now been declining for the best part of three years.
The squeeze on capacity may start to challenge firms’ pessimistic outlooks for investment through 2016 and 2017, as well as providing further support to employment growth going forward. Thursday’s March labour force data will provide a better picture. For now the RBA is likely to to remain ‘on hold’.
"We do not believe this year’s global turmoil will inflict sufficient damage to Australian domestic demand or the job market to warrant renewed easing," said Westpac in a research note.
