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Aussie Employment Report

The Australian Dollar again has come under some pressure today as it has all week producing weaker than expected economic indicators. Although the rate is as expected the number of jobs created was ~20k less than expected with a softer participation rate. The details of the release are as follows:

  • Employment Change – Survey:5.0k   Actual:-15.4k   Prior:46.3k
  • Unemployment Rate – Survey:5.2%   Actual:5.2%   Prior:5.1%
  • Full Time – Actual:0.0k   Prior:12.3K
  • Part Time – Actual:-15.4K   Prior:34.0K
  • Participation Rate – Survey:65.3%   Actual:65.2%%   Prior:65.3%

Aussie Q4 GDP

The Australian economy expanded at a slower pace than expected in the 4th quarter, pushing the Aussie lower again toward the bottom half of the 1.05 handle.

  • GDP (QoQ) – Survey:0.8%   Actual:0.4%   Prior:1.0%
  • GDP (YoY) – Survey:2.4%  Actual:2.3%   Prior:2.5%

RBA Leaves Rates Unchanged @4.25%

  • World economy to grow below trend pace this year.
  • Europe to stay potential  source of shock for some time.
  • Monetary policy ‘remains appropriate.’
  • Inflation outlook provided scope for easing if needed.
  • China growth moderated as expected.
  • Labor conditions softened in 2011.
  • Moderate Asia inflation has allowed regional policy easing.
  • Continue to monitor economic, financial conditions.
  • Acute financial pressures on EU banks alleviated considerably.
  • Borrowers interest rates close to medium term average.

Aussie Q4 Current Account Balance / Net Exports of GDP

Australia’s Current Account Deficit increased, despite a better than expected export reading for the 4th quarter. The markets had a muted reaction as risk continues to regain a light bid.

  • Current Account Balance – Survey:-8050M   Actual:-8347M   Prior:-5637M
  • Net Exports of GDP – Survey:0.0   Actual:0.3   Prior:-0.6

Aussie Private Capital Expenditure

Weaker Private Capital Expenditure out of Australia for the 4th quarter has put some pressure on the Aussie coming in down -0.3% vs. the expectation of +3.8%. Also released weaker than expected were Building Approvals for January.

Aussie Retail Sales

Aussie Retail Sales expected to be up 0.3% in January on a seasonally adjusted basis, came in as expected continuing the risk on sentiment from better data out of Japan and New Zealand earlier in the session.

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