# Australian Dollar Plummets: Weak Jobs Data Dampens RBA Rate Hike Hopes (2026)

> The Australian dollar fell as much as 1.1 percent to 68.94 US cents, its lowest since early July, after September employment data came in weaker than expected. Unemployment rose to 4.7 percent and total employment fell by 39,300, against forecasts of a 20,000 gain. Market odds for a November RBA hike dropped from almost one in three to almost one in ten.

- Date: 2026-10-31 · published 2026-11-01T06:11:03.539Z
- Category: report · region Australia · magnitude medium
- Page: https://feedsoft.ai/events/4282-australian-dollar-plummets-weak-jobs-data-dampens-rba-rate-hike-hopes-2026
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

A weaker Australian dollar lowers the US-dollar cost of Australian grain and meal exports, which can soften offer prices. The weaker labour data also reduces the chance of near-term rate hikes that would have supported the currency.

## Read by commodity

- AUDUSD: bearish ▼

## Sources

- ziontile.com: https://ziontile.com/article/australian-dollar-plummets-weak-jobs-data-dampens-rba-rate-hike-hopes

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.