AUD: Wage price index and construction work done print weak numbers - TDS

Sandeep Kanihama FXStreet Contributor

Analysts at TDS note that Australia’s Q4 Wage Price Index came at +0.5%/qtr, maintaining its record low of +1.9%/yr, consistent with TD’s and the market forecast.

Key Quotes

“There was little chance that wages were likely to rise given the part time/full time split and hours worked.”

“Q4 Construction Work Done dipped –0.2%/qtr, the weaker print led by Engineering (ie mining) -2.2%. Non-residential was positive at +1.8% after weather induced a –10.9% decline in Q3. The market is unlikely to make any revisions to its GDP forecasts on the back of this release.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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