- Analytics
- News and Tools
- Market News
- Australia Q2 Wage Price Index eases to 0.8% QoQ, 3.6% YoY, AUD/USD drops 25 pips
Australia Q2 Wage Price Index eases to 0.8% QoQ, 3.6% YoY, AUD/USD drops 25 pips
Early Tuesday in Asia, the Australian Bureau of Statistics (ABS) unveils the second quarter (Q2) Wage Price Index for the Pacific major on a quarterly (QoQ), as well as a yearly (YoY) basis.
The details of the wage increase, per the ABS, suggest that the headline Wage Price Index grew 0.8% QoQ versus 0.9% expected and 0.8% prior.
Further, the Aussie Wage Price Index grew 3.6% YoY versus the market’s forecast of witnessing an unchanged 3.7% figure for the said period.
Also read: RBA Minutes: Need for further hike would depend on data, evolving assessment of risks
AUD/USD drops 25 pips
Following the downbeat Aussie wage growth, AUD/USD dropped 25 pips to reverse the early-day rebound and refresh the intraday low near 0.6465, down 0.20% near 0.6473 at the latest.
About Australia Wage Price Index
The Wage Price Index released by the Australian Bureau of Statistics is an indicator of labor cost inflation and of the tightness of labor markets. The Reserve Bank of Australia pays close attention to it when setting interest rates. A high reading is positive (or bullish) for the AUD, while a low reading is seen as negative (or bearish).
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
