Deterioration in conditions in most states, with current momentum negative. Household sector weakness evident, investment still ok (outside mining), while agri. facing easing prices and needs rain. Housing sector downturn, population growth centred on the eastern states, agricultural prices easing.

Conditions continue to ease and confidence turns negative

China delivered some more positive results in the last 24 hours.

Credit surge keeps growth stable in Q1, but will the taps stay on?

The strong ABS print in February exceeded our expectations and indeed those of the market. It’s fair to say that we are sceptical whether such strong growth will continue.

Join NAB’s Head of FX Strategy, Ray Attrill as he sits down with Phil Dobbie to discuss the recent release of NAB’s updated FX forecasts.

The OECD suggests China’s stimulus measures may only offer short term benefits but the markets are happy to ignore the long term impacts.

Overall, the NAB Rural Commodities Index fell 2.7% in March, largely reflecting lower cattle, grain and fruit prices.

The AUD/USD traded in a tight range of just 1.65 cents in March, the narrowest range since August 2014 and closed the month at 0.7096, essentially right back to where it started.