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.

Traders 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 3.7% in February from 4.1% in the prior month. $S&P/ASX 200 VIX INDEX(.XVI.AU)$ $ANZ Group Holdings Ltd(ANZ.AU)$ $S&P/ASX 200(.XJO.AU)$