ICYMI - Long-time RBA watcher McCrann says the Bank will cut on June 4.
Terry McCrann in the local press here in Australia. .
Greg had the info up as it hit:
So this is an ICYMI for AUD traders.
Responses to the job market yesterday have been mixed, as befitting the mixed nature of the various data points within the report.
- employment up
- but unemployment up
- full time employment down
- but coming off a huge jump the previous report
I covered all this yesterday in the moments following the release. Maybe ICYMI that too? - check yesterday's wrap for links etc.
Where was I? Oh, yeah. Terry McCrann is calling for a Reserve Bank of Australia rate cut at the next meeting, June 4
The latest market pricing (via OIS) is around 60% probability of a cut.