FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Brazil Cuts Selic Rate to 14% as Inflation Eases but Risks Persist 
Australia Inflation Cools as Core CPI Misses Forecasts, Easing RBA Rate Hike Pressure 
BOJ Minutes Signal More Rate Hikes as Inflation Risks Grow 
BOJ Rate Hike Expectations Rise Ahead of September Meeting 
RBI Holds Repo Rate at 5.25% as Inflation Risks and Global Uncertainty Persist 
Fed Holds Interest Rates Steady as Kevin Warsh Says Rising Treasury Yields Tighten Financial Conditions 
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Data released earlier today showed that Australia's total employment in Jan fell 7.9k compared to a market median of +13k and a range of -30k to +40k. The driver of soft employment was a fall of 40,600 in full-time jobs.
The data suggest that the acceleration at the back end of 2015 was exaggerated. Will this give the RBA a reason to pause and consider their assessment of the labour market? In the most recent Statement on Monetary Policy they stated that the unemployment rate had fallen below 6% and was likely to stay there. One month is definitely not to be considered a trend, but will likely make the RBA a litle less confident.
"Today's release is unlikely to be a game changer for the RBA in itself, but if we see further weakness next month the market could bring forward easing expectations." said BNP Paribas in a report.
