July job ads surge 2% and inflation gauge rebounds 1%, reinforcing RBA’s hawkish stance amid persistent price pressures.
The Australian Dollar climbed against the USD, trading near 0.7010 in Asian hours after ANZ–Indeed Job Ads rose 2.0% month-over-month in July, reversing a 0.2% decline in June. The increase marks the fourth monthly gain this year, signaling resilient labor demand despite economic cooling.
The TD-MI Inflation Gauge also rebounded, rising 1.0% in July after a 0.4% drop in June, its first gain since April. The data aligns with RBA projections of intensifying underlying inflation mid-year, with Governor Michele Bullock warning of sustained price pressures.
Markets now expect the RBA to delay policy easing, supported by comments from Assistant Governor Sarah Hunter, who noted inflation remains above the 2-3% target band.