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Australia’s Burst of Hiring Sees Traders Pare Rate-Cut Bets
Australia’s powerful stretch of hiring extended into September and the unemployment rate held steady, prompting a rise in the currency as traders scaled back bets on the Reserve Bank’s first interest-rate cut. Employment rose 64,100 — driven by full-time jobs — versus a forecast 25,000 gain, Australian Bureau of Statistics data showed Thursday. The jobless rate was unchanged at a downwardly revised 4.1%. The Australian dollar rose as much as 0.4% to 66.91 US cents and the yield on policy-sensitive three-year government bonds jumped to the highest since July 31. Traders pared bets that the RBA would begin an ... (full story)
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- Oct 17, 2024 4:41am Oct 17, 2024 4:41am
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liberty458 - | Joined Aug 2006 | Status: Member | 588 Comments
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- Posted: Oct 16, 2024 10:00pm
- Submitted by:Category: Fundamental AnalysisComments: 1 / Views: 4,857
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