NAB stands for National Australia Bank and this represents a survey of businesses excluding the farming industry. In order to have an educated guess about the possible changes in the economy and to be able to react quickly to such changes one should look at such confidence survey indicators as they are offering a glimpse into the overall economic health.
The most important things to take into consideration when looking at the NAB Business Confidence are:
- release date: monthly, about 11 days after the month ends;
- release time: 01:30 GMT, during Asian session;
- second tier data;
- low volatility expected;
- actual > forecast = positive for currency;
- actual < forecast = negative for currency.