RBA: Gradual cooling supports steady policy – UOB
UOB's Lee Sue Ann notes that Australia's May labour data shows a rebound in headline employment but softer underlying conditions, with rising underemployment and falling hours, supporting the RBA's steady policy stance.
AUDUSD
UOB economist Lee Sue Ann commented on the Reserve Bank of Australia's policy outlook following the May labour data. While headline employment rebounded, underlying conditions weakened: underemployment rose and total hours worked fell.
The analyst views this as a gradual cooling of the labour market, which supports the RBA's current steady policy stance. No rate changes are expected in the near term.
Source: FXStreet Forex News