According to Sean Callow, analyst at Westpac, AUD is clearly weakest in the G10 over the week after today’s employment data and has raised caution over the fall, with pricing for the RBA to cut rates in Feb 2020 jumping from about 50% to 70%. Key Quotes “Given that the RBA last week forecast the unemployment rate to sit around 5.2% through end2020, the recent gyrations in the official data from 5.2% to 5.3% are unlikely to change the dial greatly.” “However, Westpac was already predicting a Feb rate cut so we can’t complain about market pricing moving closer to our view. The -19k reading on total employment followed another soft wages number for Q3.” “China’s economy for Q4 showed further weakness in industrial production, just 4.7%yr. Before this year, IP growth hadn’t been below 5% since a seasonal distortion in 2002.” “This should see A$ remain an underperformer near term, including against this week’s star, the kiwi.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next ECB’s de Guindos: Monetary policy cannot address all problems in the world economy FX Street 3 years According to Sean Callow, analyst at Westpac, AUD is clearly weakest in the G10 over the week after today's employment data and has raised caution over the fall, with pricing for the RBA to cut rates in Feb 2020 jumping from about 50% to 70%. Key Quotes "Given that the RBA last week forecast the unemployment rate to sit around 5.2% through end2020, the recent gyrations in the official data from 5.2% to 5.3% are unlikely to change the dial greatly." "However, Westpac was already predicting a Feb rate cut so we can't complain about market pricing moving closer to… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
