From Australia, yesterday, ANZ Job Advertisements figures were released. Australian job advertisements in newspapers and on the Internet boasted a fourth straight month of growth in November, another encouraging sign that the demand for labour was improving. A monthly survey by Australia and New Zealand Banking Group showed total job advertisements rose 1.3% to 156,187 per week on average in November, from October when they rose 0.3%. Ads were 12.3% higher on November last year.
Elias Haddad, director of currency and international economics at the CBA, expects that it will be a volatile period for the Aussie this week, stating in his Monday morning note that risks are skewed to the downside in his opinion.“AUD will likely have a volatile week with a bias to the downside versus the USD and EUR,” he wrote.“In Australia the focal point is on the November employment report.
CBA economists expect Australia’s economy to lose 10,000 jobs in November after strong gains the previous month and the unemployment rate to lift 0.1% to 6.0%.
From Australia, tomorrow, NAB Business Confidence figures will be released, while from China Trade Balance data will be published. China's Trade Balance should show surplus of 395 billion yuan, while analysts are hoping for an increase in NAB Business Confidence this month. In the US session JOLTS Job Openings figures are scheduled for a release. Increase by 5.59 million is forecasted.
Figures to watch:
NAB Business Confidence (Tuesday 1:30)
Trade Balance (Tuesday)
JOLTS Job Openings (Tuesday 16:00)
