Back

Australia: RBA still expected to hike 25 bps after soft employment data – ANZ

Australia’s Employment Change rose less than expected. Nonetheless, economists at ANZ Bank still expect the Reserve Bank of Australia to deliver a 25 basis points rate hike next month.

Labour market stalls in September

“The September labour market data were softer than expected but support the view that a 25 bps cash rate hike by the RBA is the most likely outcome in November, even if there is an upside surprise in the Q3 CPI on Wednesday.”

“A softer labour market also increases the likelihood of a December pause by the RBA, but the Q3 CPI data will be an important factor here.” 

“We still think there is room for the labour market to improve. While leading indicators have started to ease, they remain extremely high relative to pre-pandemic levels. And the share of businesses reporting labour as a constraint on output increased 2ppt to 91% in Q3, according to NAB’s business survey).”

 

Forex Today: Dollar struggles despite higher yields, USD/JPY tests key 150.00 level

Here is what you need to know on Thursday, October 20: The US dollar loses its recovery mode in early European hours, despite Treasury yields riding h
Read more Previous

USD/JPY: The door towards April 1990 high at 159.90 is open – DBS Bank

JPY depreciated for the 11th session by 0.4% to 149.90 per USD, its weakest level since 1990. Economists at DBS Bank believe that the USD/JPY pair cou
Read more Next