At 0130GMT we get employment data out of Australia. This has been very volatile data of late (I’ll have a full preview coming up). Today’s data will provide fuel for the ‘is the easing cycle done’ debate, many analysts have said that after Tuesdya’s cut there will be not further cuts from the RBA in this cycle – others are saying there will be one more. Meanwhile, back where the rubber meets the road, the AUD is finding bids on dips.
- Employment Change July: expected 6.0K, prior 10.3K
- Unemployment Rate July: expected 5.8%, prior 5.7%
- Full Time Employment Change July -4.4K
- Part Time Employment Change July 14.8K
- Participation Rate July 65.3% 65.3%
ADDED – Chinese trade data is most likely released today, too. There is no hard scheduled time for it, but I will be looking for it around 0130-0200GMT.
- Trade balance for July: expected USD26.90bn, prior USD 27.12bn
- Exports y/y: expected +2.0%, prior -3.1%
- Imports y/y: expected +1.0%, prior -0.7%
