AU Weekly Wrap | Australia March Unemployment Rate Held Steady; BHP and RIO Maintain Annual Guidance

In March 2024, the unemployment rate held steady at 3.9%, while the participation rate saw a decrease to 66.6%.

New Zealand's consumer prices rose by less than expected in the first three months of this year, giving the country's central bank more latitude to join global counterparts which have either cut interest rates or are considering doing so.

This year's iron-ore price declines are likely to have been a dress rehearsal for what's ahead, Capital Economics says. Iron-ore prices have softened on weakness in China's property sector, at one point tumbling below $100/ton before recovering slightly as steel output improved.