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Australian dollar rises to around 0.7010 amid stronger jobs data
AUD/USD reversed recent losses after ANZ–Indeed Job Ads rose 2.0% month over month in July, alongside a fresh inflation signal that keeps RBA policy easing expectations in check.
The Australian dollar gained ground against the US dollar, with AUD/USD trading around 0.7010 during Asian hours on Tuesday, after moving lower for two straight sessions, according to FXStreet.
The move came after employment-related data showed ANZ–Indeed Job Ads increased 2.0% month over month in July, rebounding from a 0.2% decline the prior month and marking the fourth monthly rise of the year. FXStreet also noted that the improvement was broad based across states and industries, pointing to resilient labor demand even as the broader economy cools.
At the same time, renewed inflation pressure supported a more cautious Reserve Bank of Australia stance. The TD-MI Inflation Gauge rose 1.0% month over month in July, recovering from a 0.4% drop in June, consistent with views from the RBA’s June meeting minutes that underlying price pressures could intensify mid year.
FXStreet further linked the outlook to RBA guidance from the central bank’s leadership, including concerns that underlying inflation remains above the 2-3% target range and risks from higher oil prices tied to developments involving Iran. The US dollar also faced a tailwind as market attention shifted to easing geopolitical tensions between the United States and Iran.