Core Viewpoint - The Australian dollar (AUD) is experiencing an upward trend against the US dollar (USD) due to strong employment data and a weakening USD, with the AUD/USD trading around 0.6515 [1] Economic Data - Australia's employment data showed a significant increase in full-time employment by 60,500 in July, with overall employment growth at 24,500, aligning closely with market expectations of 25,000 [1] - The unemployment rate remained stable at 4.2%, which alleviated market concerns regarding the Australian labor market [1] Currency Movement - The AUD/USD has risen by 0.17% from the previous close of 0.6504, indicating positive momentum for the Australian dollar [1] - The USD index has fallen below the critical support level of 98.19, suggesting significant downward pressure on the USD [1] Market Outlook - The AUD/USD is expected to challenge the resistance level of 0.6625, which is the high from 2025, driven by favorable local economic data and a weaker USD [1] - The AUD/USD may continue to fluctuate within the range of 0.6450 to 0.6550, with a potential breakdown below 0.6450 leading to further declines towards 0.6400 and 0.6372 [1] - Conversely, if the AUD/USD can stabilize above the resistance level of 0.6550, it may target the previous highs in the range of 0.6600 to 0.6650 [1]

Group 1 - The Australian dollar against the US dollar experienced a rapid decline following disappointing employment data from Australia [1] - The yield on Australia's 3-year government bonds widened its decline by 6 basis points [1] - The S&P/ASX200 index in Australia saw an increase of 0.7% [1]

Core Viewpoint - Strong employment data in Australia raises concerns for the Reserve Bank of Australia (RBA) regarding its dovish stance [1] Employment Market Analysis - In June, the seasonally adjusted ANZ total job advertisements increased by 1.8%, reaching a 12-month high [1] - The tight labor market suggests that the RBA may adopt a cautious approach in its upcoming policy meeting [1] Unemployment Rate Context - The current unemployment rate in Australia is close to a 50-year low [1] - The RBA believes that the existing policy settings are only at a moderately tight level [1]

Core Viewpoint - The Australian dollar continues to decline as employment data from Australia falls short of expectations [1] Group 1: Economic Indicators - Australia's employment data was weaker than anticipated, contributing to the depreciation of the Australian dollar [1]