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AUD: Weaker employment numbers feed RBA cute expectations - BBH

FXStreet (Delhi) – Research Team at BBH, note that the Australia jobs data for September were weaker than expected which has fuelled speculations that a rate cut is on the cards from RBA.

Key Quotes

“Employment fell by -5.1K, compared with an expected increase of 9.6k and a 17.4k rise in August. The unemployment rate was unchanged at 6.2%, as expected. The weakness in the data was driven by a 13.9K decline in fully time employment, which more than offset the increase in part time employment. The numbers will feed expectations for another cut by the RBA, but it’s far from a sure thing.”

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