Forex
Softer Jobs Data Weighs Down Aussie Dollar Amid RBA Patience
The Australian Dollar traded softer on Thursday after the release of weaker-than-expected employment data.
The labor market added fewer jobs than forecast in the latest monthly report, while the unemployment rate ticked higher, signaling a loss of momentum in the economy.
The data, released by the Australian Bureau of Statistics, showed that the economy added 15,000 jobs in [Month Year], below the 25,000 expected, and the unemployment rate rose to 4.1% from 4.0%.
BBH analysts noted that the softer jobs data 'keeps the RBA sidelined,' meaning the central bank is unlikely to adjust rates in the near term.