Australia March Services PMI 48.6 (prior 50.7) & Composite 48.5 (prior 50.6)

Judo Bank / Markit final purchasing managers' indexes (PMI) for March 2023.

The preliminary and prior for this indicator are here:

• flash readings

The final readings are better than the flash ones but are still awful, a huge drop from the February results:

Services 48.6

• preliminary was 48.2

• prior 50.7

Composite 48.5

• preliminary was 48.1

• prior 50.6

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Yesterday the Reserve Bank of Australia 'paused' its rate hikes:

• RBA leaves cash rate unchanged at 3.60%, as expected
• Full statement of the RBA April 2023 monetary policy decision
• RBA heads to the sidelines, hints that rates may have or are close to peaking
• The aussie extends its post-RBA decline

Today we'll be hearing from Reserve Bank of Australia Governor Lowe.

AUD AUD The Australian dollar (AUD) is the official currency of Australia, which is also used in Christmas Island, Cocos (Keeling) Islands, Norfolk Island, as well as independent pacific states.Introduced in 1966, the AUD is currently the fifth most traded currency in the world, behind only the US dollar, euro, Japanese yen, and British pound.The currency is very important to forex markets and is routinely used as a carry trade against other majors.The Reserve Bank of Australia (RBA) is the central bank The Australian dollar (AUD) is the official currency of Australia, which is also used in Christmas Island, Cocos (Keeling) Islands, Norfolk Island, as well as independent pacific states.Introduced in 1966, the AUD is currently the fifth most traded currency in the world, behind only the US dollar, euro, Japanese yen, and British pound.The currency is very important to forex markets and is routinely used as a carry trade against other majors.The Reserve Bank of Australia (RBA) is the central bank Read this Term barely changed on the data release. It rarely is on this one.