AUD Surges Against USD as US Jobs Data Disappoints and Australian GDP Beats Forecasts
The Australian Dollar gained against the US Dollar on Wednesday after weaker-than-expected US jobs data and higher-than-forecast Australian GDP growth. The AUD/USD pair rose to 0.7169, a 0.35% increase from its daily low of 0.7121.
Data released by the ADP showed private hiring in the US slowed down in August, dipping to 38K from 46K, below forecasts of 47K. This weighed on the US Dollar, which fell 0.08% to 99.57.
Australia's GDP figures for Q2 2026 also exceeded expectations, rising by 0.4% quarter-on-quarter and 2.1% year-on-year. However, the Reserve Bank of Australia (RBA) remains focused on tackling inflation, rather than being swayed by these growth numbers.
The AUD/USD pair is expected to move higher, with immediate resistance at 0.7198 and a next bullish objective near 0.7339. On the downside, support levels are seen at 0.7026 and 0.6897.