Job growth beat expectations and unemployment back to 3.5% and below its 12-month average. So we’ll turn a blind eye to the lower participation rate, given it has pulled back from a record high. Ultimately, it’s another strong set of employment figures which keeps the pressure on a data-dependant RBA to potentially hike rates in August. And it could take quite a set of lowballed inflation figures next week for that pressure to be removed. Moreover, it’s the quarterly inflation report which carries more weight for the RBA’s decision. {chart} AUD pairs spike higher, ASX 200 pauses at resistance: The Australian dollar ... (full story)