Australian Dollar Gains on Strong Employment Data and Resurgent Inflation

The Australian Dollar (AUD) gained ground on Tuesday after strong employment data and resurgent inflation signals a hawkish stance from the Reserve Bank of Australia (RBA).

ANZ, Indeed Job Ads rose by 2.0% in July, marking the fourth monthly increase this year.

This broad-based strength across states and industries reflects robust labor demand despite a cooling overall economy, according to ANZ Senior Economist Catherine Birch.

The TD-MI Inflation Gauge jumped 1.0% in July, its first increase since April, further supporting expectations of a cautious central bank.