Flash: RBA to cut rates in August - NAB

FXstreet.com (Barcelona) - Australian-based NAB revised the RBA cash rate outlook yesterday following the weakest June NAB Survey for business conditions in four years. As the Bank reports, "Business confidence remains below trend and labour market forward indicators still point down", adding that "We now expect the RBA to ease in August (previously November)." Chances of an RBA rate cut in August, as indicated by swap rates, stand at 56%.