Australia’s June employment rose 76.3K, crushing estimates of 15K and lifting RBA rate-hike bets.
AUD/USD traded around 0.7000 in European hours Thursday, steady after Australian employment jumped 76.3K in June, well above the 15K forecast. The unemployment rate held at 4.4%, matching expectations.
May’s gain was revised to 44K. The stronger-than-expected labor data fueled speculation the Reserve Bank of Australia may raise rates again, following three hikes this year to 4.35%.
The US Dollar’s weakness, driven by softening economic data and Fed policy uncertainty, supported the pair ahead of Friday’s flash PMI readings.