FxWirePro:AUD/USD firms as Australia’s Jobs data beats forecasts

• Australian dollar advanced on Thursday as better-than-expected Australian jobs data bolstered case for a more hawkish outlook from RBA.

• Australian employment surged past expectations in April, easing the case for more stimulus. However, markets still anticipate a rate cut next week as cooling inflation gives room to address global risks.

• Australian Bureau of Statistics data showed employment surged by 89,000 in April, up from a revised 36,400 in March—far exceeding the 20,000 forecast and marking the largest monthly gain in over a year.

• The RBA kept rates steady at 4.1% in April but signaled a possible cut, calling the May meeting a chance to reassess monetary policy.

• At GMT 04:23, the Australia dollar was up 0.21% to 0.6443 against the US dollar.

•  Immediate resistance is located at 0.6491(Higher BB), any close above will push the pair towards 0.6515(23.6%fib).

•  Support is seen at 0.6407(38.2%fib) and break below could take the pair towards 0.6340(Lower BB).

 Recommendation: Good to buy around 0.6430 with stop loss of 0.6360  and target price of 0.6500