Taking a look across Asia, though. Markets are doing too badly. They’re mostly higher. That’s despite what we saw on Wall Street overnight. It fell as Washington remained in a deadlock over the extending of the US borrowing limit. The Dow gave up almost one per cent. The gold price has been benefiting though as investors find a safe place for their money. So has the Australian dollar. It’s benefiting from the troubles in the US and it’s rising against all of the major currencies.

 

A key measure of Australian business confidence rose to a 3.5 year high last month as firms were cheered by a decisive election outcome. The National Australia Bank monthly survey shows businesses were also buoyed by lower borrowing costs and rising consumer sentiment, though actual conditions remained subdued. It’s the second month in a row the survey of more than 400 firms has risen.

 

A key survey shows there’s been a slight improvement in the number of jobs being advertised in September. The ANZ report shows job ads on Newspapers and online increased 0.2 per cent last month. That reverses six months of negative readings. ANZ says the figures are consistent with its view that most of the increase in unemployment has already happened and it will only drift slightly higher. The official employment data for September is due on Thursday.