Current Market Sentiment | Australian Jobs Figures

Jarratt Davis

Special Consultant to the FPA
There is no trade call for the session. Ahead the European calendar is light aside from employment data from Switzerland. Familiarize with the latest market changes by reading through my analysis of the current market sentiment below.

Current Market Sentiment:

Producer Price Index from New Zealand came in -1.2% for inputs and -0.8% for outputs during the early Asian session. Alongside the earlier lower inflation expectations, the decline in PPI signals more downward pressure on prices.

Australian jobs figures missed estimates at -7,900 jobs lost and unemployment ticking up to 6.0%. The Aussie dipped 40 pips immediately upon release before retracing the move throughout the rest of the Asian session. Provided WTI doesn't rally further, the Aussie may remain pressured for the session.

Chinese CPI missed at 1.8% y/y versus 1.9% expected. PPI slightly beat estimates at -5.3% y/y. Markets were unaffected by the relatively in-line readings.

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