Little in Australia jobs report to suggest RBA is closer to cutting – TD Securities

Source Fxstreet

Analysts at TD Securities don't think that the latest employment data from Australia will bring the Reserve Bank of Australia (RBA) closer to lowering its policy rate.

Australian labour market remains tight with

"Australian headline employment fell 6.6k in March, softer than the +10k consensus and TD's +18k f/c. Given the significant increase in jobs posted in February, a much larger giveback could have happened, so the 6.6k drop is not too bad."

"Driving the negative print was the 34.5k drop in part time but full time rose 27.9k (this is strong) while there were upward revisions to headline and full time for February. Seasonally adjusted monthly hours worked rose by 0.9%. The participation rate dropped from 66.7% to 66.6%, helping to limit the back up in the unemployment rate from 3.7% to 3.8%."

"Overall today's report supports the call that the Australian labour market remains tight with employment growth of 2.4% YoY, the employment-to-population ratio and participation rates still close to their November record highs. There is little in today's report to suggest the RBA is closer to cutting."

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Gold rebounds to $3,946 off $3,870 as oil does the Fed's work — but the ETF bid is still missingGold closed at $3,946, up 1.84% from a one-year low of $3,870.25, as Brent's 7.6% slide cut December hike odds to 77%. ETF holdings are still shrinking — a short-covering bounce, not new money.
Author  Irene Q.
Nov 03, Tue
Gold closed at $3,946, up 1.84% from a one-year low of $3,870.25, as Brent's 7.6% slide cut December hike odds to 77%. ETF holdings are still shrinking — a short-covering bounce, not new money.
placeholder
Gold Price Analysis Today | Forex Gold Analysis | XAU/USD Analysis - November 5, 2026Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for November 5, 2026. Read on for the details.
Author  Mitrade
Nov 05, Thu
Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for November 5, 2026. Read on for the details.
placeholder
Gold Price Analysis Today | Forex Gold Analysis | XAU/USD Analysis - November 6, 2026Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for November 6, 2026. Read on for the details.
Author  Mitrade
Yesterday 01: 36
Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for November 6, 2026. Read on for the details.
placeholder
Gold's $250 week runs into the last payrolls before DecemberSpot gold traded at $4,080.79 after a roughly 6% weekly rally from the Oct 30 low of $3,869.85, touching $4,146.63 on Nov 5. Three bids are stacked into the move: real-rate relief, record official-sector buying, and a geopolitical premium. Tonight's October payrolls (+65K consensus, 4.2% unemployment) decide which bid survives, with $4,000 and $4,200 as the two lines.
Author  Irene Q.
Yesterday 03: 03
Spot gold traded at $4,080.79 after a roughly 6% weekly rally from the Oct 30 low of $3,869.85, touching $4,146.63 on Nov 5. Three bids are stacked into the move: real-rate relief, record official-sector buying, and a geopolitical premium. Tonight's October payrolls (+65K consensus, 4.2% unemployment) decide which bid survives, with $4,000 and $4,200 as the two lines.
placeholder
Micron's $4.5 billion Taiwan fab won't make a chip until 2028 — the market sold it as a 2026 problemMicron fell 17.46% to $656.39 after Bloomberg reported construction at its $4.5 billion Taoyuan Fab 11E had all but halted over a labor dispute. The plant was not due online until 2028, so no 2026 output is lost. With FY27 EPS consensus near $160 and 2027 HBM sold out, the selloff is a peak-cycle multiple reset, not a demand collapse — and $650 is the line that separates the two.
Author  Irene Q.
Yesterday 03: 28
Micron fell 17.46% to $656.39 after Bloomberg reported construction at its $4.5 billion Taoyuan Fab 11E had all but halted over a labor dispute. The plant was not due online until 2028, so no 2026 output is lost. With FY27 EPS consensus near $160 and 2027 HBM sold out, the selloff is a peak-cycle multiple reset, not a demand collapse — and $650 is the line that separates the two.
Related Instrument
goTop
quote