Stronger-than-expected Australian June employment prompted interest-rate markets
to lift bets on a Reserve Bank of Australia August rate hike. At market open
odds of an August move were 25% and odds of a hike in the remainder of 2026 were
80%; after the data these rose to 33% and 95%, respectively. IG market
strategist Tony Sycamore said the RBA would be concerned about a tightening
labor market while inflation remains elevated.