ANZ job advertisements for February: %

  • (prior +1.2%, revised from +1.3%)
  • Up 10.2% y/y
  • ANZ job ads chalk up 9th consecutive monthly gain

ANZ commenting that there may be another 2 rate cuts coming up in Australia this year (would make 3 in total given the cut already in February)

  • job advertisements remain on a moderate upward trend, suggesting that labour demand is holding up across certain sectors of the Australian economy
  • "That said, while job ads did experience their ninth consecutive monthly increase, the annual pace of growth has eased somewhat in the previous two months, suggesting some loss of momentum."
  • "There is also some possibility that a third cut will become appropriate later in the year, should confidence and indicators of non-mining investment and household consumption fail to turn up sufficiently,"

AUD/USD not doing a whole lot today ...