April Australian unemployment rose to 4.5%, missing forecasts, as employment fell by 18.6K against expectations of a 17.5K gain.
The Australian Dollar pared gains against the US Dollar after April employment data reinforced expectations of a Reserve Bank of Australia pause. AUD/USD traded at 0.7126, up from lows near 0.7100 but below Wednesday’s peak of 0.7174.
Australia’s unemployment rate climbed to 4.5%, the highest since 2021, defying forecasts of a steady 4.3%. The surprise drop in net employment—down 18.6K versus an expected 17.5K increase—dampened rate hike bets. Sentiment was slightly supported by US-Iran peace deal optimism.
Technical indicators remain mixed, with the RSI below 50 signaling mild bearish pressure, while the MACD hints at tentative bullish momentum.