Australia July Jobs -14.6K (vs. +15K expected) & Jobless rate 3.7% (vs. 3.5% exp)

<p>A sad report from Australia. Outsized fall in full time employment is not encouraging. </p><p>AUD/USD marked lower to under 0.6370.</p><p>The unemployment rate at 3.7% is still just off its nearly 5-decade low, but is back up at the level from May last year. </p><ul><li>underutilization rate is 10.1%, another indication of weakness, back to March 2022 highs</li></ul><p>The Reserve Bank of Australia next meet on September 5. This report pretty much locks in another on-hold cash rate decision. We do get the monthly inflation data before then, on 30 August, but unless it's a shocker the Bank is on hold. </p><p>more to come </p>

This article was written by Eamonn Sheridan at www.forexlive.com.