AUD Surges on Hawkish RBA Expectations Amid Strong Job Data

The Australian Dollar (AUD) rose against the US Dollar (USD) on Tuesday after strong employment data and resurgent inflation signaled a hawkish stance from the Reserve Bank of Australia (RBA).

The AUD/USD pair gained ground, hovering around 0.7010 during Asian hours, as positive job ads and rising inflation pressures increased expectations that the RBA will hold off on policy easing.

Anz-Indeed Job Ads rose by 2.0% month-over-month in July, reversing a 0.2% decline from the previous month and marking the fourth monthly rise of the year, according to Anz Senior Economist Catherine Birch.

The TD-MI Inflation Gauge also increased 1.0% month-on-month in July, recovering from a 0.4% drop in June and marking its first gain since April.