TD Securities: Australian Jobs Rebound Expected, RBA on Alert After CPI Miss
Australia's May headline CPI slowed to 4.0% year-on-year, missing consensus and TD Securities' forecast, driven by softer transport and fuel costs. The firm expects a jobs rebound, keeping the RBA alert.
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TD Securities strategists note that Australia's May headline CPI came in at 4.0% year-on-year, below both consensus expectations and the bank's own forecast. The softer reading was largely attributed to declines in transport and fuel costs.
Looking ahead, TD Securities expects a rebound in Australian employment data, which could keep the Reserve Bank of Australia on alert for further policy adjustments. The mixed signals from inflation and labor markets suggest a cautious stance from the RBA.
Source: FXStreet Forex News