Bullish
AUD/USD rises to 0.7018 after Australia adds 76,300 jobs in June, exceeding expectations.
The Australian dollar strengthened against the US dollar following a robust employment report for June, which saw the addition of 76,300 jobs, significantly surpassing the anticipated 15,000. This positive data has increased market expectations for a potential interest rate hike by the Reserve Bank of Australia (RBA) by December.
Key points
- Australia's employment data for June showed a gain of 76,300 jobs, far exceeding the forecasted 15,000, with the unemployment rate holding steady at 4.4%.
- The strong employment figures have raised the probability of an RBA rate hike to over 50% by December, up from a 23% chance previously.
- Despite the positive employment data, the Australian dollar remains under pressure due to stronger US labor market data and cautious market sentiment, with AUD/USD trading lower near 0.6970.
- The US Initial Jobless Claims fell to 187,000, well below the 212,000 forecast, while geopolitical tensions, including comments about a possible major attack, have increased uncertainty.
Sources
- AUD/USD Forecast: 0.7018 as Jobs Beat 5x Consensus Raises RBA Hike Odds to 50% by DecemberFX Leaders · July 23, 2026
- Australian Dollar trades under pressure amid strong US dataFXStreet · July 23, 2026
- Australian Dollar remains steady following improved employment dataTMGM · July 23, 2026
- AUD/USD Holds Above 0.7000 After Strong Jobs Data, UOB Bullish Bias SupportedCoinAlert News · July 23, 2026
AI-generated from public news sources. Not financial advice.
