Australian Dollar Gains Sharply As Job Creation Smashes Forecasts

Overall job creation was an impressive 41,000 in July according to official data, well above the 14,000 new posts which the market has expected. Full-time employment rose by a chunky 34,500 with part-time positions up by 6,700. The unemployment rate remained steady at 5.2%, however.

The Reserve Bank of Australia is known to be watching this series especially closely now with monetary policy settings in mind, and this clear evidence that Australia is still hiring is likely to see some of the more aggressive forecasts for lower interest rates pared back a little. Read More...

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