Daily Digest Market Movers: Australian Dollar gains ground on higher ASX 200 Index
- Australia’s Trade Surplus (MoM) narrowed to 7,280 million in March, falling short of the expected 10,400 million and February’s reading of 10,058 million.
- Australia's Exports decreased by 2.2% month-over-month, contrasting with the previous increase of 1.6%. The nation’s Imports grew by 4.8%, compared to 1.3% prior.
- Australia's Final Retail Sales were unchanged at 0.3% in February, which is in line with expectations.
- The US Treasury stated Secretary Janet Yellen's meeting with China's Finance Minister Lan Foan, where they discussed the macroeconomic outlook and financial developments in both the United States and China. They also discussed the significant role that the Treasury and the Ministry of Finance can play in maintaining a durable communication channel between the two countries.
- Federal Reserve Bank of Dallas President Lorie K. Logan emphasized on Friday that, in light of the upward risks to inflation, she deems it premature to contemplate cutting interest rates. She stressed the necessity of resolving more uncertainty regarding the economic trajectory before making such decisions.
- US Nonfarm Payrolls (NFP) reported a significant increase of 303,000 jobs in March, surpassing expectations of 200,000 and the previous reading of 270,000.
- US Average Hourly Earnings rose by 0.3% month-over-month in March, meeting expectations. The previous reading was 0.2%. There was an increase of 4.1% on an annual basis, aligning with the market consensus but slightly lower than 4.3% prior.
- US Initial Jobless Claims for the week ended March 29 rose by 9,000 to 221,000 from the previous week’s reading of 212,000, below the market consensus of 214,000.
- US Challenger Job Cuts posted 90.309K for March against the previous reading of 84.638K.
- US ADP Employment Change rose by 184K in March, compared to the 155K increase in February, above the market consensus of 148K.
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