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All eyes are on the Australian Dollar as it is set to release it's Unemployment Rate later in the Asian Session.
Unlike it's counterpart New Zealand, the labor market has faired better than expectations. Earlier this year the RBA had commented that they expected this number to peak at 6.5% - a number which is yet to be seen.
As well, a few weeks back, the RBA released a monetary policy statement that seemed rather hawkish. No major concerns were mentioned. Essentially the view was that they were on track and essentially relying on the FED rate hike to assist their policy even further.
Perhaps the monetary policy was a leading clue as to the next few data releases out of Australia?
Today's release is expected to come in at 6.2% - quite strong on its own, but potential to come inline seem high.
Unlike it's counterpart New Zealand, the labor market has faired better than expectations. Earlier this year the RBA had commented that they expected this number to peak at 6.5% - a number which is yet to be seen.
As well, a few weeks back, the RBA released a monetary policy statement that seemed rather hawkish. No major concerns were mentioned. Essentially the view was that they were on track and essentially relying on the FED rate hike to assist their policy even further.
Perhaps the monetary policy was a leading clue as to the next few data releases out of Australia?
Today's release is expected to come in at 6.2% - quite strong on its own, but potential to come inline seem high.
