Asian Economic Calendar: Key Events and Consensus Expectations for 18 January 2024

<p>The item of most note on the data calendar for the session ahead is the Australian Laour Market report for December 2023. The November report showed:</p><ul><li>another massive rise in jobs</li><li>the 'participation rate' – i.e folks in the workforce or looking for work, also rose</li><li>the unemployment rate is its highest since May of 2022, but still not to far from its nearly 50 year low of 3.5%</li></ul><p>As I said at the time, the Reserve Bank of Australia (RBA) is going to have to weigh up the jobs added as a sign of strength, and the rising unemployment rate as a concern given its dual mandate. The RBA will, however, also see the higher unemployment rate as a slight easing in the tight labour market, which they'll welcome, though maybe not say out loud. </p><p>Having said all this the RBA is laser-focused on inflation right now. The next official quarterly data is due on January 31. The RBA meets next on February 5 and 6 and right now its a live meeting. Earlier this week we got the first update for December inflation via the private survey:</p><ul><li><a href="https://www.forexlive.com/news/australian-private-survey-of-inflation-soared-by-1-mm-in-december-the-most-in-17-months-20240115/" target="_blank" rel="follow" data-article-link="true">Australian private survey of inflation soared by 1% m/m in December, the most in 17 months</a></li></ul><p>The jump is a concern, b ut the panic button has not yet been hit.</p><p>This snapshot from the ForexLive economic data calendar, <a href="https://www.forexlive.com/EconomicCalendar" target="_blank" title="Click here!">access it here</a>.</p><p>The times in the left-most column are GMT.</p><p>The numbers in the right-most column are the 'prior' (previous month/quarter as the case may be) result. The number in the column next to that, where there is a number, is the consensus median expected.</p>

This article was written by Eamonn Sheridan at www.forexlive.com.