RBA easings prospects in June just got a setback

The futures pricing for a rate cut in June fell from around 38% to 20% after the employment report.

It was only yesterday that Westpac came out with a call for a follow-up rate cut in June. This data environment is so volatile (especially the employment data,

• we’ve had +50,100 in April,
• -36,000 in March and
• +74,000 in February!) ,

I’d hate to be an economist having to make such calls now.