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Tomorrow is chock-full of key data from Australia that is especially relevant for fundamental analysis.
The RBA is putting a lot of emphasis on employment data to determine it’s monetary policy direction. If the jobs figures continue to deteriorate, it would increase the chances of a rate cut. And what will have a bigger impact on the markets is the potential for unconventional policy measures.
The data we’re waiting for covers January. This was back when there was a surge of optimism following the signing of the phase I trade agreement (the provisions of which became effective on Friday the 14th).
It might seem like a really long time ago, but it’s been less than two months since the deal was finally inked. The coronavirus – now officially COVID-19 – outbreak didn’t get on international news until half-way through the month.
Therefore, it likely wouldn’t have had much of an effect on the numbers we will be reviewing.
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