Following the release of the mixed Australian employment data for January, the country’s Treasurer Josh Frydenberg said that he is confident that the labor market can remain resilient.
Key quotes
“The latest jobs figures are good news for Australia, with the unemployment rate falling to 6.4 percent from 6.6 percent in January.”
“This shows the remarkable resilience in the Australian economy and in the Australian labor market.”
“Yes, JobKeeper is coming to an end in March, but the Australian labor market will continue to be resilient as we taper off those payments and move to other support across the rest of the economy.”
Market reaction
AUD/USD is defending minor bids just above 0.7750 amid mixed Australian jobs report. The S&P 500 futures turn negative amid conflicting covid vaccine news, adding to the weight on the aussie.
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