Some background fundamental inputs for the Aussie ahead of today's jobs data - ANZ
|Ahead of today's jobs data, analysts at TD Securities noted that Consumer sentiment picked up a little to 102.1 via a rebound in current conditions (+2.4 to 104.6) led by family finances.
Key Quotes:
"This was entirely due to income tax cuts (in the May budget) sinking in. The offset was economy in 5y, down -3 to 95. Maybe softer house prices are working its magic as well, with time to buy a house +5 to 105.7, after consecutive declines."
"The RBA Governor's speech on 'Productivity, Wages and Prosperity'provided little in terms of new leads. The Governor reaffirmed his positive outlook for the global and domestic economy, however he indicated that the prospect of an RBA rate hike is 'some time away' until wages growth picks up. We believe the RBA is looking for wages growth of 3%+ before pulling the rate hike trigger. The RBA acknowledged a tightening in credit conditions, but believes not a cause for concern."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.