Credit Agricole assess the jobs data out from Australia a little earlier
ICYMI (the data):
- Australian employment report: Unemployment rate 5.2% (expected 5.3%, prior 5.3%)
- More on the Australian jobs report and the drop in the unemployment rate
Quick take from CA:
- above 0.6800 is big resistance for AUD/USD
- jobless rate at 5.2% is still migh higher than the RBA wants it, thus further rate cuts to come
- overnight data from the US on retail sales combined with the Aussie jobs data a favourable for AUD at present