Asia Summary and Highlights 23 July
Australian June Unemployment rate steady at 4.4%
But headline employment change is a huge beat
Asia Session
The Australian June Unemployment rate is steady at 4.4% but headline employment change is a huge beat at 76.3k with higher participation rate of 67%. Stronger part time growth than full time growth may take away some shine yet overall it is a very strong labor report. Aussie buyers are likely increasing their hawkish anticipation from the RBA and have sent the AUD/USD 0.27% higher at 0.7016. NZD/USD is trading 0.1% higher while USD/CAD slips 0.2% on up beat oil.
USD/JPY is little changed on Thursday with no fresh headlines for the pair. The Middle East situation persists and could persuade BoJ to hike earlier. Some market participants are anticipating another 25bps before year end 2026. USD/JPY is hugging the 163 figure to trade 0.02% lower at 163.10. Major equities are performining individually while precious metals soften. Else, EUR/USD is up 0.17% and GBP/USD is up 0.1%.