The Australian jobs report was another stunner:

There is, on present data (the inflation rate in Australia is more than double the upper level of the RBA's target band), pretty much no case for the Reserve Bank of Australia to remain on hold at the April (4th) meeting.

The big but is the global concern over banking system stability. SVB, Signature, and now Credit Suisse coming to the fore of concerns. Unless this passes really, really quickly, the RBA looks set to pause in April.

AUD/USD ticked a few points higher in the jobs data, circa 0.6632 ish as I update, not a lot changed.

Philip Lowe rba