• Australia’s May jobs data showed more resilience than expected with a 1.1k rise, after April’s 45k jobs surge with the unemployment rate easing to 5.5%. The outcome boosted the AUD and dampened speculation for a July RBA rate cut.
• The key Australian economic events this week include the June RBA Board meeting minutes, the 2013/14 NSW Sate Budget, QIV population data, and latest quarterly labour force data showing a snapshot of jobs growth by industry.
• US Fed is expected to leave policy settings unchanged at its FOMC meeting but all eyes will be on the accompanying statement for further clues about when the Fed will start to unwind stimulatory settings (ie sooner rather than later?).
• Key US data due this week includes: NAHB housing market index, CPI, housing starts, building permits, existing home sales, Philadelphia Fed index, and leading indicators.
Read the full report: Market Research
Commonwealth Bank