ASX 200 Rises 0.33% as Australia Unemployment Hits 4.5% and Brent Holds Near $91
Updated
Updated · Finimize · Aug 20
ASX 200 Rises 0.33% as Australia Unemployment Hits 4.5% and Brent Holds Near $91
3 articles · Updated · Finimize · Aug 20
Summary
Australia’s benchmark index added 0.33% to 9,083.80 on Thursday, extending a rebound even as July unemployment edged up to 4.5% from 4.4%.
The labor-market softening mattered more than the equity gain because it can lower expectations for the Reserve Bank of Australia’s future cash-rate path.
That rates view typically pushes Australian government bond yields and the dollar lower, while boosting longer-duration growth stocks and pressuring bank margins.
Brent crude near $91 a barrel kept inflation risks in focus as markets also tracked Middle East tensions and modest overnight gains on Wall Street.