Australian unemployment rate dipped to 4.9% in February via a +5k lift in employment (TD flat, mkt +15k), while full-time pulled back by -7k after a string of strong months, as part-time rose +12k, notes Annette Beacher, chief Asia-Pacific macro strategist at TD Securities. Key Quotes “The participation rate edged lower as we expected to 65.6%. The RBA expects the unemployment rate to be 5% this year, so today’s report is consistent with that view.” “The RBA also focuses on underemployment, and there is good news there as well. Underemployment and underutilisation rates/ratios have been edging lower (not in a straight line) for the last two years. The slump in the underutilisation rate hints at 3%/y wages growth by year end.” “The AUD has traded within a US0.70-73 range for the last six months, and today’s rally doesn’t threaten the range. OIS is priced for a 25bp rate cut by August. The next policy hurdle is Q1 CPI on 24 April, where our tracking looks for core to be 1.75%/y.” “We do not look for rates cuts at this juncture.” 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 US Dollar Index shows signs of life near 96.00 FX Street 4 years Australian unemployment rate dipped to 4.9% in February via a +5k lift in employment (TD flat, mkt +15k), while full-time pulled back by -7k after a string of strong months, as part-time rose +12k, notes Annette Beacher, chief Asia-Pacific macro strategist at TD Securities. Key Quotes "The participation rate edged lower as we expected to 65.6%. The RBA expects the unemployment rate to be 5% this year, so today's report is consistent with that view." "The RBA also focuses on underemployment, and there is good news there as well. Underemployment and underutilisation rates/ratios have been edging lower (not in a… 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.
