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The mixed nature of economic data outcomes in recent weeks means that the Reserve Bank will likely keep the cash rate unchanged tomorrow, for a third straight month.
But economists say the central bank board meeting is also likely to again indicate it has scope to further cut the official rate, given a still uncertain outlook for the global economy.
The much touted global green shoots of recovery story suffered a heavy pruning on Thursday, after the US labour market suffered another set back, with the unemployment rate striking a fresh 26-year high of 9.5 per cent.
Australian shares retreated on the data, while money markets pared their expectations of higher Australian interest rates next year.
Commonwealth Securities chief economist Craig James says the US payrolls will create new interest in tomorrow's board meeting.
He says, at the very least, the drop in US jobs should dampen rate hike speculation, and lead the Reserve to confirm its easing bias.
