Daily digest market movers: Aussie struggles as markets asses employment figures
- On a quiet Friday, markets continue to digest Thursday’s employment figures from Australia which came in mixed.
- It was announced a substantial 50.2K increase in employment changes, soaring beyond earlier market forecasts of 20K and May's 39.5K record.
- On the negative side, the Unemployment Rate rose marginally from 4.0% to 4.1%, which might provide some relief to the RBA's hawkish stance.
- The market currently predicts roughly a 50% chance of the RBA hiking either in September or November.
- Conversely, the chance of the Federal Reserve implementing a rate cut in September stands at approximately 90% according to the CME FedWatch tool
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.