FXStreet (Bali) – Michael Turner, Currency Strategist at RBC Capital Markets, notes that the Australian employment report is hard to believe.
Key Quotes
“The pace had been getting better over the last two to three months and I don’t want to say that these numbers are completely out of the realm of possibility.”
“We are still calling for a rate cut in the first quarter of next year
From a bigger picture perspective, there are bigger forces at work that will keep pressure on the cash rate over the long term but that is not the story today.”
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