Daily digest market movers: AUD path dependant on labor market data
- Investors are poised on the Australian Employment data, scheduled for release on Thursday. The forecast reveals that 20,000 job hunters found employment in June, a number parallel to the May figures.
- If the unemployment rate remains stable at 4.0%, it would signal a robust labor market which could bolster expectations of the RBA's policy-tightening initiative.
- However, in the US, the market suspects a near-future rate cut by the Federal Reserve inflation is showing signs of easing.
- As for now, market projections currently factor in almost a 50% chance of the RBA increasing rates in September or November.
- On the other hand, the likelihood of a rate cut by the Federal Reserve in September is nearly to be priced in.
- The divergent monetary policies of the Fed and RBA might limit the losses of the pair
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
If you like, reward to support.
Hot
No comment on record. Start new comment.