Australian Dollar Falls Amid Mixed Employment Data

The Australian dollar declined to a new intraday low against the US dollar on Thursday, September 24, following the release of Australia's latest employment data.

The data showed that employment growth in August exceeded expectations, with an increase of 39,500 jobs. However, the unemployment rate rose to 4.6%, driven by a sharp jump in the labor force participation rate to 67.1% rather than by a rise in the number of unemployed.

The Reserve Bank of Australia (RBA) focuses on inflation, and analysts believe that the data are unlikely to alter the RBA's near-term outlook. The case for a rate hike at next week's meeting remains intact.