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AUD/USD: Jobs Data Bolsters Range Test as RBA Rate Cut Bets Ease
AUD/USD remains on track to retest the top of its recent range, with a strong December jobs report adding to doubts about whether the Reserve Bank of Australia (RBA) will begin lowering interest rates in February. However, more broadly, global factors continue to drive dictational risks in the Aussie. Employment growth surged by 56,300—nearly four times the expected figure—though the gain was entirely driven by part-time hiring, with the full-time workforce declining by 23,700. Despite this split, total hours worked across the labour market grew by 0.5%. The unemployment rate ticked up to 4.0%, driven by a ... (full story)
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- Posted: Jan 15, 2025 10:14pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 4,543
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