The Australian dollar has jumped alongside the huge surge in full time employment data

The Australian jobs data is here:

• Australia July 2025 Unemployment rate 4.2% (vs. 4.2% expected)
• +24.5K jobs added
• +60.5K full time jobs added
• -36K part time jobs

The solid employment report follows yesterday's resilient wages data:

• Australian data - Q2 2025 Wage Price Index 0.8% q/q (expected 0.8%)

Add the two together and you've got a case for slower Reserve Bank of Australia rate cuts ahead. RBA rate cuts up to now have been finely balanced affairs, and indications from the Bank have been they won't be quick to add further rate cuts. The data suppots Reserve Bank of Australia assessments.