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AUD/USD Hits Fresh Lows On Trade, Trump and Wages Miss - Employment Up Next
The Aussie found itself under pressure ahead of today’s wage data, thanks to soft consumer growth and Trump’s latest trade-twist. Just 27pips above 69c, it may take more than stronger employment tomorrow for this level to hold. Quarterly wage growth slightly undershot expectations, coming in at 0.5% versus 0.6% expected, whilst the annual rate remained unchanged at 2.3%. Tomorrow’s employment data will be a core focus for traders. In their May OCR statement, the RBA emphasised they’ll ‘be paying close attention to developments in the labour market at its upcoming meetings’. As it stands, they remain ... (full story)