PREVIOUS TRADING DAY EVENTS 04 April 2023

Announcements 

According to the U.S. Bureau of Labor Statistics, the number of job openings decreased to 9.9 million on the last business day of February. Thats lower than the revised 10.56 million reported for January, based on the latest Job Openings and Labor Turnover Survey.

Economists were expecting 10.4 million available positions, according to Refinitiv. The February JOLTS report showed that the number of new hires decreased to 6.1 million from 6.3 million, layoffs fell to 1.5 million from 1.7 million, and resignations grew to 4 million from 3.9 million.

The industries with the largest declines in job openings were professional and business services, health care and social assistance, and transportation, warehousing and utilities.

At the time of the release of this report, the USD had depreciated greatly.
Source httpswww.bls.govnews.releasearchivesjolts04042023.htm

Australias central bank paused rate increases. The cash rate figure was released on the 4th of April remaining at 3.6, the same as the previous figure. That was in line with a majority of economists and market expectations.

Among reasons to pause, Governor Philip Lowe highlighted the string of rate increases and high inflation that are leading to a substantial slowing in household spending. He added that some households are experiencing a painful squeeze on their finances.

The RBAs decision to pause rate hikes in April increases the chance that…