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Australia unemployment rate expected to hold near 4.4%
Markets are bracing for an unemployment reading that is unlikely to change the Reserve Bank of Australia outlook for AUD, given recent rate hikes.
Forexlive highlights Australia’s upcoming labor market release, with the unemployment rate expected to remain steady at 4.4%.
The preview notes that the unemployment rate has moved higher in recent months as three Reserve Bank of Australia rate hikes in succession have weighed on jobs growth at the margin.
While the report could matter if it shows a sharp deterioration in employment, Forexlive says the data is unlikely to impact the RBA or the Australian dollar unless unemployment rises materially or jobs added shift substantially negative.