From Australia, yesterday, ANZ Job Advertisements figures were released. Employer demand for staff is at a three-and-a-half year high, with more job gains tipped for the months ahead. The number of job ads on the internet and in newspapers rose one per cent in January, retracing a 0.1% decline in December. Job ads were up 10.8% on the same month a year ago, seasonally adjusted figures from ANZ show.
China is now on holiday for the week removing some volatility from the market place. The iron ore price jumped more than seven per cent last week as the impact of supply disruptions flows through the market. In good news for miners that are struggling to contain costs in the face of an 18-month bear market, the price now has not fallen for the past eight sessions. But over the longer term, concerns over slowing Chinese demand and a supply glut could continue to put pressure on the iron ore price. The World Bank recently forecast the commodity would trade at an average $US42 a tonne this year.
From Australia, tomorrow, NAB Business Confidence data is scheduled for a release. Analysts are hoping for a better reading this month. In the US session JOLTS Job Openings figures will be published. Increase by 5.54 million is forecasted.
Figures to watch:
NAB Business Confidence (Tuesday 1:30)
JOLTS Job Openings (Tuesday 16:00)