Comments from Westpac on their initial response to the data. – significant fall in employment – rise in unemployment was not larger due to a record fall in participation,
Blogs
The FBI has served a warrant on the US Senator who dumped shares on coronavirus
The report from back in March is here: Burr is chair of the US Senate Intelligence Committee committee was receiving daily coronavirus briefings
Australian Treasurer Frydenberg says economic numbers will get worse before they get better
His remarks in the wake of the April job loss data: Frydenberg See here for global coronavirus case data
NZ budget projects net debt will surge to 53.6% of GDP by 2023
New Zealand borrowings will increase to help fund the fiscal spoend to combat the virus impact upon the economy more to come — NZD has been sold off with other currencies in the wake of the terrible Australian job report for April.
Australian PM Morrison says a hard news on job losses
The jobs report from Australia was awful: Prime Minister Morrison comments: – tough day for Australia – knew there would be hard news on job losses – must brace for more hard news to come Like I said earlier, this sort of news is going to be repeated over and over again as data hits from […]
AUD and NZD fall to fresh session lows after the terrible Australian job loss numbers
The Australian unemployment report post is her That unemployment rate is bad, but better than expected , the plunge in participation … this from the ABS (repeated from the earlier post) puts it in a nutshell:
Australia jobs report April: Employment Change -594.3K (vs. -575K expected) 6.2% unemployment rate
Australian employment report, enormous job losses due the wide shut down in the month Employment Change: -594.3K – -575K expected, prior +5.9K Unemployment Rate: 6.2% showing not as dire as expected – sharp drop in the participation rate though … thus the unemployment rate reported is still bad news indeed
CFTC warns oil prices could go negative again
The Commodity Futures Trading Commission warned exchanges, futures brokers and clearing houses that "they are expected to prepare for the possibility that certain contracts may continue to experience extreme market volatility, low liquidity and possibly negative pricing."
Australia survey of consumer inflation expectations, for May 3.4% (prior 4.6%)
Lower petrol prices will have helped. See here for global coronavirus case data
AUD/USD may drop to 0.6200 in the coming month before rebounding – NAB
NAB argues that the aussie faces downside risks in the near-term "The APAC market has carried the 'risk-off' baton into our session, keeping the US dollar buoyant. The lower-than-expected Australian unemployment rate has been quickly seen through, both in terms of the number of people out of the workforce last month and the 9% fa