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Jobs Data Boosts ASX, AUD Dips
Description
Australian Stock Market Surges as Unemployment Rises, Boosting Confidence in Interest Rates
The Australian stock market had its best day in six weeks, with the ASX 200 climbing 1.47% to 8,621.7. This surge was driven by higher-than-expected unemployment figures, which reduced pressure on the Reserve Bank to raise interest rates. Mining stocks led the charge, with Evolution Mining and Rio Tinto seeing solid gains. New retail company Skinkandy also made a strong debut on the ASX. Real estate and finance sectors also benefited from the jobs report.
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