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15 Mar 2013
Forex Flash: Australian jobs may partly reflect sampling error - NAB
Despite Australia’s upbeat jobs figures, largest monthly increase since July 2000, the NAB team notes that "other indicators of labour demand, including job vacancies and our own NAB employment series, the rise may at least partly reflect sampling error; we still expect unemployment, steady at 5.4% to rise ahead."
"The RBA’ Christopher Kent was reported as suggesting the strength of the jobs number may have been a statistical aberration overnight, while talking up prospects for housing construction ahead. Today we expect a more subdued AUD market, after yesterday’s excitement, with likely profit taking (it is Friday) but a bid tone remaining" NAB adds.
"The RBA’ Christopher Kent was reported as suggesting the strength of the jobs number may have been a statistical aberration overnight, while talking up prospects for housing construction ahead. Today we expect a more subdued AUD market, after yesterday’s excitement, with likely profit taking (it is Friday) but a bid tone remaining" NAB adds.