ICYMI the data and my response is here:
And:
- Responses to the Australian employment report coming through
- Responses to the Australian employment report coming through - more
Some comments:
BIS Oxford Economics (via Reuters report):
- "The data confirm the RBA's view that the economy needs to generate more jobs to reach full employment, and that policy loosening is needed to achieve this
- expect ... two more (cuts) this year"
JPMorgan Asset Management (via Bloomberg report):
- jobs gains nearly all driven by part-time, RBA will not see this as sign of a healthy labour market
- "The big question is whether this stronger headline figure moves the needle for the RBA ... The answer is no"
- case for cut in August
- raises the probability of further cuts by the RBA in 2020
AUD languishing:
