Australian Unemployment Drops to 3.7% While Currency Gains

-- Australian employment soared last month and the jobless rate declined, highlighting the ongoing resilience of the nation’s labor market to restrictive monetary policy. The currency and bond yields advanced.Trump Rules Out Vivek Ramaswamy as Running Mate as He Eyes New TeamTraders pared back expectations for an August interest-rate cut after government data Thursday showed the economy added 116,500 roles, almost three times the 40,000 gain forecast. Unemployment fell to 3.

Australia’s Employment Minister Tony Burke said the report showed it’s possible to bring inflation down while keeping the jobless rate low. “The strength in the labor market indicates that there is no pressing need right now to cut rates,” said Diana Mousina, deputy chief economist at AMP Ltd. Vladimir Putin overcame sanctions by selling oil to India and China and spending heavily on its military, but questions remain for Russia's economy.Former White House press secretary Stephanie Grisham proposed a list of properties former President Trump would be most disappointed to have seized if he cannot pay the damages in his civil fraud case.

Source: News Formal (newsformal.com)

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