FXstreet.com (Barcelona) - For the AUD traders, the standout event for today will be the December labour market report at 00.30GMT. NAB looks for a 5k fall vs +4.5k expected (2.3k at FXstreet.com). As NAB notes, "the report has a standard error close to 30k, and barring an outlier, there may be more interest in the unemployment rate, seen rising to 5.4% from 5.2%" NAB adds.
The bank expands: "We are likely to need to see numbers capable of shifting expectations for Feb RBA rates action (currently 36%) to have material impact on the AUD. Otherwise it’s likely to be steady as she goes with the air thin above 1.0580 but exporter and other demand holding us up not far below 1.0550."
The bank expands: "We are likely to need to see numbers capable of shifting expectations for Feb RBA rates action (currently 36%) to have material impact on the AUD. Otherwise it’s likely to be steady as she goes with the air thin above 1.0580 but exporter and other demand holding us up not far below 1.0550."
