Research Team at TDS, notes that the Australian Employment for Jan was weak all round. Key Quotes “The headline number –7.9k missed our +5k forecast and the market’s more optimistic +13k target. The sharp 40k drop in full time employment drove the weaker headline and although the participation rate was unchanged at 65.2%, as the market expected, the unemployment rate nudged higher from 5.8% to 6%. The RBA though is unlikely to attach too much importance to today’s data given the string of blockbusters. The RBA Assistant Gov Malcolm Edey addressed the Australian Shareholders Association with his topic titled ‘The Evolving Risk Environment’. Key points: 1) there is little new data that triggers a reassessment of the global outlook; 2) no sense of alarm on China; 3) the Bank is happy to see a cooling in investor activity in Australian housing. RBA keeps a cool head.” For more information, read our latest forex news.