AUD Soars as Soft US Jobs Data Weighs on Dollar

The Australian Dollar surged on Wednesday against the US Dollar after weak US jobs and GDP data weighed on the Greenback. The AUD/USD pair reached a daily high of 0.7169, up 0.35% from its low of 0.7121.

Data from the US revealed that private hiring slowed in August, with the ADP National Employment Change dipping to 38K, below forecasts of 47K.

In contrast, Australia's GDP for Q2 2026 rose by 0.4% QoQ and 2.1% YoY, both exceeding expectations. However, the Reserve Bank of Australia remains focused on tackling inflation.

The Federal Reserve is still expected to raise interest rates at its September 16 meeting, with odds at 67.50%. Fed officials are split on whether policy is restrictive, but Governor Christopher Waller's speech on Thursday may provide more clarity.