TheAustralian Dollar Gained Thursday despite a miss for June’s job creation, as full-time roles gained strongly and overall participation held up.
Thursday’s figures from Australia showed that employment surged in June but the unemployment rate stayed at 5.2%, so the need for more policy stimulus is felt.
Reserve Bank of Australia has recently estimated that the jobless rate will need to fall to 4.5% and for achieving this goal they cut interest rate two times from June to 1%. Economists expect another rate cut by November. They also believe to a further slowdown in employment growth over next six month.