AUDUSD Jumps On Better Than Expected Australia Employment Data

Published on Jul 20, 2023 10:05

AUDUSD jumped on Thursday after data showed Australian jobs data came in better than expected, raising bates that RBA could go ahead with rate hikes to bring down stubborn inflation. The unemployment rate remained at 3.5 per cent in June (seasonally adjusted), in line with the updated figure for May, according to data released today by the Australian Bureau of Statistics (ABS). Employment increased by 32.6 thousand, surpassing market forecast of a 15 thousand gain. Meanwhile, dollar reversed yesterday`s gains and slipped back near 15 month low, supporting the pair. The dollar index that measures the greenback against a basket of currencies is currently trading at 99.81, down 0.18% on the day. At the time of writing, AUDUSD is seen quoting at 0.6844, up 0.8% on the day. The pair is up for the first day in five and rebounding from a one-week low.