Daily Digest Market Movers: Australian Dollar depreciates on weaker ASX 200 Index
- Australian Employment Change for February surged to 116.5K, surpassing expectations of 40.0K and the previous figure of 15.3K.
- Australia’s Unemployment Rate increased by 3.7%, lower than the anticipated 4.0% and the previous 4.1%.
- The preliminary Judo Bank Services PMI rose to 53.5, up from the previous figure of 53.1. Composite PMI showed a slight increase, reaching 52.4 compared to the previous 52.1.
- People’s Bank of China (PBoC) has kept its interest rate unchanged at 3.45%.
- Federal Open Market Committee (FOMC) maintained interest rates at 5.5% during Wednesday's policy meeting. The remarks made by US Federal Reserve (Fed) Chair Jerome Powell in the post-meeting press conference, signaling a dovish stance, exerted additional downward pressure on the Greenback.
- S&P Global Services PMI showed a slight decrease in March, dropping to 51.7 from 52.3. The expected reading was 52.0. Manufacturing PMI rose to 52.5 against the expected 51.7 and 52.2 prior. Composite PMI showed a slight dip to 52.2 from 52.5 prior.
- Initial Jobless Claims for the week ending on March 15 came in at 210K, below the 215K expected and 212K prior.
- US Building Permits (MoM) increased to 1.518 million in February, against the expected 1.495 million and 1.489 million prior.
- US Housing Starts (MoM) rose to 1.521M from the previous figure of 1.374M, exceeding the market expectation of 1.425M in February.
- The preliminary US Michigan Consumer Sentiment Index for March decreased to 76.5 from 76.9. This decline contrasts with expectations of it remaining unchanged.
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