Australian Job Market Numbers Exceed Expectations

Data released by the Australian Bureau of Statistics on Thursday morning showed
that the Australian job market performed better than expected in September.

Content:
Australia
Gold
Inflation

Australia

The Australian economy added approximately 64.1 thousand jobs, surpassing market expectations of only 25.2 thousand jobs.
These numbers also exceeded August’s revised figure, which showed an addition of 42.6 thousand jobs,
up from the previously reported 47.5 thousand.

As for the unemployment rate, it remained steady at 4.1% in September, better than the expected 4.2%.
The August figure was also revised positively, showing a drop in unemployment from 4.2% to 4.1%.

Gold

It Nears Record High
Gold prices rose during Thursday’s trading session, nearing their historical highs amid ongoing uncertainty in the markets due to the upcoming U.S. elections and heightened anticipation for U.S. retail sales data.
Spot gold prices increased by 0.29%, or $7.6, reaching $2,680.9 per ounce, approaching the record high of $2,685.42 recorded on September 26.
Gold futures for December delivery also saw a slight increase of 0.16%, or $4.4, reaching $2,695.2 per ounce.

Inflation

Eurozone Inflation Rates Continue to Decline
Inflation in the Eurozone slowed in September, reaching 1.7% according to the second reading, lower than the previous estimate of 1.8%.
This deceleration follows a 2.2% rate recorded in August,
marking the lowest inflation level in over three years and below the target set by the European Central Bank,
reinforcing expectations of potential interest rate cuts.

Additionally, core inflation, which excludes energy and food costs, was confirmed to be 2.7%, in line with previous forecasts.

In a separate report, preliminary estimates showed a trade surplus of €4.6 billion in the Eurozone’s external goods trade during August, compared to €4.8 billion in the same month last year.

Australian Job Market Numbers Exceed Expectations

Australian Job Market Numbers Exceed Expectations

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