The Aussie takes the crown against the major currencies this week after a positive turn on sentiment thanks to better-than-expected Australian jobs data.
Australia Headlines and Economic data
- Australia’s Finance Minister: No Need for More Fiscal Stimulus
- Early week positive global risk sentiment was likely a contributor to Aussie strength, sparked by news that China’s factory, retail sectors shine as trade tensions thaw.
- Meeting minutes: RBA to “reassess” outlook in February, “prepared to ease” further if needed – this was a downer for the Australian dollar as it seemed the RBA was lacking any kind of optimism whatsoever.
- The CB Leading Economic Index for Australia increased 0.2% in October 2019 to 107.7
- Australian jobs rebound in Nov, adding 39K and the unemployment rate ticks lower to 5.2% – this was a very positive number for the Aussie as it likely lowered the odds of a February rate cut.