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Australian employment beat forecasts for a sixth straight month in September, while the jobless rate held steady, reinforcing the view that the labor market remains tight as market bets for a rate cut by year end diminish. The Australian dollar rose 0.5% to $0.6698, rebounding from a one-month low, while the three-year government bond yield jumped 7 basis points to 3.829%.
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The number of Americans filing new applications for unemployment unexpectedly fell last week, but could remain elevated in the near-term amid the effects of Hurricanes Helene and Milton, obscuring the labor market picture. Initial claims for state unemployment benefits dropped 19,000 last week to a seasonally adjusted 241,000 for the week ended Oct. 12, the Labor Department said on Thursday.
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