AUD Gains as Job Ads, Inflation Data Signal Hawkish RBA Stance

The Australian Dollar (AUD) has gained ground against its US counterpart as strong job ads and rising inflation data point to a more hawkish stance by the Reserve Bank of Australia (RBA).

Data released on Monday showed the TD-MI Inflation Gauge rose 1.0% month-on-month in July, marking its first gain since April.

RBA Governor Michele Bullock emphasized that underlying inflation remains too high and warned of potential further increases driven by higher oil prices stemming from the conflict in Iran.