Daily Digest Market Movers: Australian Dollar appreciates on stronger CNY, ASX 200
- 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 flashed by 3.7%, lower than the anticipated 4.0% and the previous 4.1%.
- Australia's government has pledged to support a minimum wage increase aligned with inflation this year, recognizing the ongoing challenges faced by low-income families amid the rising costs of living.
- China's Premier Li Qiang stated on Sunday that the nation's low inflation rate and low central government debt ratio provide significant leeway for macroeconomic policy adjustments.
- During the press conference, Fed Chair Jerome Powell stated that an unexpected rise in unemployment could lead the Federal Reserve to consider lowering interest rates.
- 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.
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