Trading news

Strong employment data reduces chance of RBA November rate cut

By Giles Coghlan, Chief Currency Analyst at HYCM


The jobs data on Thursday from Australia was a good beat with full time employment figures increasing and unemployment levels falling. Eamonn reported at the time that shortly after the print Westpac (who see the next RBA rate cut in Feb 2020) saw this positive print as giving the RBA more time to keep rates on hold:

Westpac with their view on what the jobs data means.

- this month's modest decline in the unemployment rate will be temporary and emphasise we are still a long way away from the RBA's full employment aim of 4.5%. It does however allow the RBA some more time to monitor the economy before having to act again.

In an immediate reaction AUD was bid and I am expecting AUDNZD buyers on pullbacks. With no major data out of NZD until October 31 and CPI due out October 30th for the AUD, then AUDNZD should be supported into month end. The fly in that outlook is a breakdown in US-China pahse 1 talks which I expect to drag more heavily on AUD (due to Oz's close trade relationship with China) than NZD and would result in AUDNZD downside.

To learn more about HYCM, please visit its website.


Friday, 18 Oct, 2019 / 7:18

Note: Company News is a promotional service of the Directory and the content isn't created by Finance Magnates.

Source :!/strong-employment-data-reduces-chance-of-rba-november-rate-cut-20191018

Trading news


Oil Overcame $63 Level

Brent crude oil closed last week’s session in the red. On Friday night, [...]

Posted on Monday, 18 Nov, 2019 / 2:58 under

Market Optimism Keeps Gold Under Pressure

By Dmitriy Gurkovskiy, Chief Analyst at RoboForexEarly in a new November week, [...]

Posted on Monday, 18 Nov, 2019 / 2:47 under

Markets stay in a risk-on mood; pound climbs

  Stock markets climb, safe havens drop as trade optimism lingers [...]

Posted on Monday, 18 Nov, 2019 / 10:01 under