Unemployment data on tap today: The arrangement leads to a set of circumstances whereby although nominally full-employment is achieved, labour is underutilized. Wages don’t grow consequently, dragging on other areas such as consumption, investment and savings. There is still hope from policy boffins that the described phenomenon will prove transient, and that the outlook for wage growth, and all the areas it impacts, will progressively improve.

Of course, it won’t be remedied today; but employment numbers released this morning will contribute to the evolving narrative. The Australian economy is expected to have added 15k jobs last month, enough to keep the unemployment rate to around 5 per cent. With traders pricing that the next move from the RBA will be a cut, a pull back in the AUD, or further falls in ACG Bond yields, may be what to watch for today.

NAB's preview of jobs data: "NAB expects slower growth in employment (NAB: +10k vs market: 15k) and unchanged unemployment at 5.0% (mkt: 5.0%), albeit with the risk that it ticks up to 5.1%."

Australian shares advanced to a six-month high on Monday as investor sentiment remained positive heading into a busy month for global investors.

The S&P/ASX 200 Index climbed 24.7 points, or 0.4 per cent, to 6217.4 while the broader All Ordinaries rose 28.7 points, or 0.5 per cent to 6302.5.

"Following a robust recovery for risk assets since the start of the year, a number of events in March are going to set the tone for global investors on whether this rebound is sustainable," said JP Morgan Asset Management Asia Pacific chief market strategist Tai Hui.