The March employment report today is the Australian highlight of the week. RBC forecasts a below consensus print of 0k for the number of job additions (cons: 15k), and for the u-rate to tick higher to 6.4% (cons: 6.3%). “Our slightly more pessimistic forecast is built on the view that there should be further ‘giveback’ after a particularly stellar Q4. We also, however, note that annual seasonal re-analysis may lead to greater volatility than usual in this release”, Says RBC Capital Markets
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