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Employment: +0.5k (from –62.7k). Unemployment Rate: 4.1% (from 3.9%). Participation Rate: 66.8% (unchanged). January is the most seasonal time of the year for the labour market, and this year was no exception. As we had anticipated, the softening trend in labour market conditions that extended into the new year was amplified by shifting seasonal dynamics […]

The post Australia January Labour Force: Seasonality Amplifies a Weak Underlying Trend appeared first on Action Forex.

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29/11/2023

RBNZ Review: Talking Tough and Maybe Doing Something

The OCR remained at 5.5% as Westpac and the market had expected. The RBNZ’s projections for the OCR were revised 10bp higher to a peak of 5.69% in September 2024, implying around a 75% chance of a further 25bp rate hike. The projections imply a gradual easing of policy from the first half of 2025. […]
12/03/2024

Sunset Market Commentary

Markets Sticky. There’s no better way to describe today’s US CPI print. Headline and core inflation rose by 0.4% M/M in February. Both are in line with forecast, given that core CPI actually increased by 0.358% (vs 0.3% forecast). Annual readings increased for the top figure (3.2% Y/Y from 3.1% Y/Y) and fell slightly less […]
22/04/2024

Sunset Market Commentary

Markets Eurostat today published deficit and debt data for the years 2020-2023 in E(M)U). The euro area government deficit declined marginally from 3.7% of GDP in 2022 to 3.6% in 2023. The government debt to GDP ratio decreased over the same period from 90.8% to 88.6%. Zooming in on Belgium, Eurostat reported an increase of […]