HALISTER1: AUSTRALIAN JOBS PREVIEW: Aussie’s Advance at Risk If Data Misses

AUSTRALIAN JOBS PREVIEW: Aussie’s Advance at Risk If Data Misses

(Bloomberg) -- Market pricing and survey expectations suggest potential for a big AUD/USD correction if Thursday’s report shows job losses, according to Bloomberg strategist Michael G Wilson.
  • This is first Bloomberg survey since August 2014 in which the lowest estimate still foresees net positive jobs growth
  • Nation probably added 13,500 jobs in Feb., according to median est. of 28 surveyed economists; range: +3,200 to +25,000; data due at 11:30am Sydney; unemployment rate seen holding at 6.0%
  • OIS are pricing in just a 15% chance of RBA easing at next meeting, down by half in the past month
  • AUD/USD steady at 0.7460
  • NOTE: Michael G. Wilson is an FX strategist who writes for First Word. The observations he makes are his own.
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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