AUD/USD to move downward amid building global growth concerns – MUFG AUDUSD Employment RBA Banks Growth
falls to record low. However, economists at MUFG Bank expect the aussie to remain under pressure amid global growth concerns.“Australia revealed that the unemployment rate fell to its lowest level since the 1970’s at 3.85% in April. It will add to the RBA’s concerns that tight labour market conditions will fuel a pick-up in wage growth and pose upside risks to the inflation outlook.”to respond by continuing by tightening policy at their next meeting on 7th June by 25bps.
“We don’t believe the favourable domestic developments are sufficient to outweigh building global growth concerns, and as such view risks as tilted to the downside for theInformation on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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