AUD/USD flows: Wage Stronger than expected

The Australian Q1 wage price index has come in stronger than expected at +0.9% q/q and +3.4% y/y. As the Australian labor market remains choppy, wage price is surprisingly solid. The Australian wage growth has historically being lagging behind the strength of labor market and this Q1 data points to a lower likelihood the RBA will cut imminently.

AUD/USD is trading 0.11% higher at 0.6477.