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Domestic labour market data provides......>

AUSTRALIA
AUSTRALIA: Domestic labour market data provides the highlight for participants
today, with the RBA relying on a strong labour market to generate inflationary
pressure over time.
- The release will be under increased security after the minutes of the RBA's
most recent MonPol meeting were taken as dovish, at the margin, with the Bank's
scenario analysis seemingly focusing more on the downside risks to the Bank's
view.
- In terms of forward looking indicators SEEK job adverts remain elevated but
are back from best levels, while ABS job vacancies data sits at record highs.
The employment outlook component of NAB's quarterly business survey has pulled
back from the cycle high, observed in mid-2018, while ANZ job advertisements
have fallen in each month of 2019.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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