The data is here from earlier:
Australian October unemployment rate 4.1% (vs. 4.1% expected)AUD/USD little changed after the October employment report showed a steady jobless rate(ps. AUD/USD has slid a little since this post, broadly stronger USD the culprit)
Westpac with the recap, in brief:
Australian labour market remains in
relatively solid health
employment growth slowing broadly in line with population growth
average hours holding steadyfew signs that labour demand is
capitulating to an extent that warrants concernlabour market
conditions remain somewhat tight … this is not translating to stronger wage inflation pressures
On balance, today’s update will see the RBA continue to remain focused
on the dynamics around underlying inflation.
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Speaking of the RBA, we heard from Bullock earlier, not dovish:
RBA Bullock says rates are restrictive enough, staying there until confident on inflation
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AUD/USD update:
This article was written by Eamonn Sheridan at www.forexlive.com.
