Australian dollar hasn’t moved much on the jobs data – here’s when the next CPI is due

The TL;DR on this post here is that the next round of inflation data for Australia is due on Wednesday 26 June 2024

• at 1130 Sydney time
• which is 0130 GMT
• and 2130 US Eastern time (on Tuesday 25 June)

The jobs data earlier:

• Australian May unemployment rate 4.0% (vs. 4.0% expected)

This was a good report, nearly 40K jobs added, and more than that number were full-time (part-time fell a little).

But, the focus is not on employment numbers for now, its on inflation.

The data due on June 26 is a monthly report only. For May 2024.

The monthly CPI data from Australia does not show all components of the CPI. That’ll have to wait for the quarterly data release.

• The monthly CPI indicator does, however, provide a timelier indication of inflation using the same data collected for use in the quarterly CPI. The monthly reading includes updated prices for between 62 and 73 per cent of the weight of the quarterly CPI basket, its not the full picture.

The quarterly CPI reading for the April – June quarter is due on Wednesday 31 July 2024.

AUD/USD update, its dribbled lower. But so have GBP, NZD, EUR, CAD against the big dollar. So its more reflecting a minor wiggle for the USD than anything else.

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