Australian dollar hit lower after Q2 wages data miss

Data is here, a small miss but check out the post for the rel wage data, which is very ugly.

• Australian Q2 wages data +0.7% q/q (expected 0.8%)

While the data is a miss it is in line with what the RBA has forecast. This takes some of the argument for a 50bp rate hike in September (the 6th) away. Not from me, I reckon lock it in FWIW.

The Wage Price Index is not necessarily a useful indication of actual pay. But, hey, headlines and spot FX, amIright? (Its enough to trigger some marking down of AUD to attack some stops just under the market).

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 update:

NZD/USD is down alongside the AUD. Not as much.