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EBC Daily Snapshot Mar 21, 2024

EBC Forex Snapshot 21 Mar 2024 The dollar slid on Thursday after the Fed marinated its projections of interest rate cuts for the year. The Australian dollar jumped as data showed employment rebounded sharply last month. The country’s jobless rate dived to 3.7% as employers shrugged off signs of an economic slowdown to boost staff numbers by triple the level expected. The strong result dumbfounded economists. Earlier this week, RBA governor Michele Bullock indicated a rapid increase in unemployment could prompt the central bank to start cutting interest rates. The labour market has been in for a bumpy ride. EBC Group Social Responsibility Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC Group Social Responsibility or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

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Publication date:

2024-03-21 11:36:01 (GMT)

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