Dollar Falls as Markets Reject “Hawkish Cut” Narrative; Aussie Falls Hard After Labour Miss.US stocks advanced solidly overnight after the Fed's expected 25bps rate cut was greeted warmly by markets. Even though some economists labeled the decision a “hawkish cut,” the risk-on response in equities and the sell in Dollar suggested investors heard nothing hawkish enough to derail near-term sentiment.
Australia jobs shock as employment drops -21.3k in November.Australia's November labor data delivered a downside surprise, with employment falling by -21.3k against expectations for a 20k increase. The weakness was driven by a sharp -56.5k drop in full-time positions, partly offset by a 35.2k rise in part-time roles.
Breaking: Australia's Unemployment Rate steadies at 4.3% in November vs. 4.4% expected.Breaking: Australia's Unemployment Rate steadies at 4.3% in November vs. 4.4% expected
Australia jobs drop 21,300 in November, unemployment steady.Australian employment fell by the most nine months in November as full-time jobs more than reversed a large increase the previous month, while the unemployment rate held steady as fewer people went looking for work.