AUD traders – a big week coming up, Tuesday RBA info and Thursday RBA Gove Lowe and jobs report

ICYMI, I posted last week on the week ahead in Australia:

To repeat:

Minutes of June 2021 Monetary Policy Meeting

  • Tuesday 15 June 2021, 11.30 am Sydney time, which is 0130GMT

Philip Lowe, Governor speech, topic is: From Recovery to Expansion

  • venue is the Australian Farm Institute Conference
  • Thursday 17 June at 10.10 am Sydney time, which is 0010GMT

RBA Bulletin also on Thursday 17 June 2021, 11.30 am Sydney / 0130GMT

Not from the RBA, but Thursday will also bring the Australian jobs report for May 2021 (data due at 0130GMT). I’ll have previews posted on approach.

Via Westpac, a snippet on the jobs report:

  •  Payrolls data have been a consistent guide to the direction, if not always the magnitude, of changes in Labour Force employment. Payrolls for the first two weeks of May (the reference weeks for the May Labour Force Survey) are now up 0.3% on the first two weeks in April. 
  • Payrolls had a significant fall in SME jobs, plus the greater loss of jobs in the sectors more dependent on JobKeeper, suggesting some firms are facing meaningful headwinds.
  • Our forecast for participation to return to 66.3% will lift the unemployment rate back to 5.7%.

AUD/USD is little changed on the day here:

aud chart

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