The Australian dollar has continued to make gains, helped by a recovery in iron ore and oil prices and as traders stay bullish ahead of employment data later on Thursday.

At 0637 AEST on Thursday, the local currency was worth 79.54 US cents, from 79.22 US cents on Wednesday.

June employment data released by the Australian Bureau of Statistics is expected to show employment numbers increase by 15,000, according to market estimates and FXStreet analyst Valeria Bednarik said this would be an important factor in Thursday’s session.

“Better-than-expected numbers, particularly with gains in full-employment, should result in a break above the 80 cents threshold, with the upward momentum expected to accelerate then,” she said.

On Wednesday, the local currency stayed at its highest level since May 2015, supported by higher commodity prices and a subdued US dollar.

The Aussie also made gains against the Japanese yen and the euro.

AAP

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