The Australian labour market data for July is here:
A quick note on what I highlighted as two key points in the report:
- a big beat for the headline jobs added
- a rise in the trend unemployment rate
The first one runs against expectations that job growth is slowing substantially (at least for the month), while the second one argues the RBA will not be moving away from an easing bais any time soon.
More jobs, more easing.
Better than Goldilocks?
AUD - its holding on to (some of) its gains:
