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AUD Falls On Shock Corporate Profit Slide, RBA Rate Call Up Next
The Australian Dollar slipped a little Monday on a plethora of weaker domestic data of which the lowlight was probably surprise softness in company operating profit. Profits rose just 0.8% on the quarter to December 2018, well below the 3% increase expected and the previous quarter’s 1.2 % rise (revised down from the initially reported gain of 1.9%). Inventories also fell, by 0.2%, when a 0.3% gain was forecast. These numbers followed news of a fall in job advertisements as counted by Australia and New Zealand Bank. Adds Ads fell 0.7% on the month in February. It should be noted however that the labor market ... (full story)