Market probability of an RBA rate cut next week has been slashed

Market price for an Reserve Bank of Australia rate cut on Feb 4 was around 60%, its been smashed to around 25% in the wake of the unemployment rate drop

…. 23% as I update

The data:

• Australian December Unemployment Rate: 5.1% (expected 5.2%)

Currency response:

• AUD marked higher on the lower unemployment result from Australia

and:

• More on the Australian jobs report (the unemployment rate unexpectedly fell)