{"id":41900,"date":"2023-02-15T06:15:00","date_gmt":"2023-02-15T06:15:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=41900"},"modified":"2023-02-15T11:55:59","modified_gmt":"2023-02-15T11:55:59","slug":"market-insight-australian-job-report-preview","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/market-insight-australian-job-report-preview\/","title":{"rendered":"Market Insight – Australian Job Report Preview"},"content":{"rendered":"\t\t
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The Australian dollar<\/a> has continued trading lower against the US dollar, following the release of much stronger CPU data from the US. Now traders digest a key speech from RBA Governor Lowe and await the monthly jobs report from Australia tomorrow.<\/p>

Reserve Bank of Australia Governor Lowe gave testimony in front of a parliamentary committee today. On interest rates he said he thought they had further to rise but could not say by how much. Both comments seem right.\u00a0<\/p>

Governor Lowe said \u201cThere is a risk the bank has tightened policy too much\u201d and the \u201cRisk is that they have tightened enough, which means higher inflate the on.\u201d<\/p>

He added that \u201cmonetary policy is restrictive\u201d and \u201cinflation is way too high, needs to come down.\u201d He also said that government fiscal policy is \u201cbroadly neutral.<\/p>

Traders also have to factor in the Australian job report could be a market mover. Australia’s seasonally adjusted unemployment rate stood at an unexpected 3.5% in December 2022, unchanged from an upwardly revised figure in November and compared with market estimates of 3.4%.<\/p>

The latest print remained near five-decade lows, as the number of unemployed increased by 5,800 to 499,800. People looking for full-time jobs rose by 1,400 to 326,100, and those seeking part-time jobs – by 4,400 to 173.600.<\/p>

At the same time, employment fell by 14,600 to 13.75 million, the first drop since July, missing forecasts of a 22,500 growth. Part-time employment declined by 32,200 to 4,128,100, and full-time employment surged by 17,600 to 9,619,000.<\/p>

Westpac have given their view on the outcome of Thursday job report and said \u201cWe suspect that illness-related absences and a \u2018catch-up\u2019 in summer leave will result in an employment print slightly below trend, as opposed to another outright decline.\u201d<\/p>

They note that \u201cThe unemployment rate is just 0.1ppts off the 50-year low print of 3.4% in October, signalling a still historically tight labour market. Holding participation at 66.6% and the rate of growth in the working age population steady, this should see a 20k increase in the labour force in December. Our forecast 15k gain in employment is enough to hold the unemployment rate at 3.5%.\u201d<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

The Australian dollar has continued trading lower against the US dollar, following the release of much stronger CPU data from the US. Now traders digest a key speech from RBA Governor Lowe and await the monthly jobs report from Australia tomorrow. Reserve Bank of Australia Governor Lowe gave testimony in front of a parliamentary committee […]<\/p>\n","protected":false},"author":4,"featured_media":34125,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[9],"tags":[52,760,101,318],"yoast_head":"\nMarket Insight - Australian Job Report Preview - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/market-insight-australian-job-report-preview\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Market Insight - Australian Job Report Preview Market Insight - Australian Job Report Preview\" \/>\n<meta property=\"og:description\" content=\"The Australian dollar has continued trading lower against the US dollar, following the release of much stronger CPU data from the US. Now traders digest a key speech from RBA Governor Lowe and await the monthly jobs report from Australia tomorrow.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/market-insight-australian-job-report-preview\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-15T06:15:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-15T11:55:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2022\/09\/GettyImages-124376776.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"479\" \/>\n\t<meta property=\"og:image:height\" content=\"308\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Market Insight - Australian Job Report Preview Market Insight - Australian Job Report Preview\" \/>\n<meta name=\"twitter:description\" content=\"The Australian dollar has continued trading lower against the US dollar, following the release of much stronger CPU data from the US. 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