Australian September unemployment rate 4.5%
The Australian September unemployment rate has worsened to 4.5% from 4.2%, despite an uptick in participation rate to 67% from 66.8%. Market participants seem to have tilted towards an imminent cut but they would be caught wrong footed as RBA has previewed a higher Q3 CPI, ruling out a November cut.
AUD/USD is trading 0.37% lower at 0.6488.