The ABS will publish the February employment report on Thursday. As previously stated, Australia is expected to have created 7.2K new jobs in March, while the Unemployment Rate is foreseen at 3.9%. The Participation Rate was reported at 66.7% in February.
The tepid job creation and the modest uptick in the Unemployment Rate should not be a problem for the RBA. A much stronger than-anticipated report, however, may be read as a delay in rate cuts. The market isn’t rushing to bet on it, which means the Aussie will likely take advantage against the US Dollar in such a scenario
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