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What a surprise spike in the unemployment rate means for interest rates and the economy

Melbourne, Oct 16 (The Conversation) The rate of unemployment in Australia is on the rise again. Official labour force data released on Thursday shows that in the month to September, Australia’s seasonally adjusted unemployment rate jumped from 4.3% to 4.5%. That’s the highest rate since November 2021. The surprise jump strengthens the case for the Reserve Bank of Australia to cut the official cash rate in November. Jobless rate climbs to 3.9% in November (highest since April 2022) but main story is the surge in new hires. The economy added 63,500 jobs, most of the full-time, so the labour market

Rupee rises 40 paise to 87.68 against US dollar in early trade

Mumbai, Oct 16 (PTI) The rupee appreciated 40 paise to 87.68 against the US dollar in early trade on Thursday, primarily driven by central bank intervention, a softer dollar index. Forex traders said other supportive factors like positive domestic equities, lower crude oil prices and renewed foreign fund inflows also boosted investor sentiments. At the interbank foreign exchange market, the rupee opened at 87.76 and then gained ground and touched an early high of 87.68 against the US dollar, registering a gain of 40 paise from its previous close. On Wednesday, the rupee bounced back sharply by 73 paise to

Stock markets surge in early trade tracking rally in global peers

Mumbai, Oct 16 (PTI) Equity benchmark indices Sensex and Nifty surged in early trade on Thursday, tracking a rally in global markets amid US Fed rate cut hopes. Fresh foreign fund inflows also added to the markets’ optimism during the initial trade. The 30-share BSE Sensex jumped 407.67 points to 83,013.10 in early trade. The 50-share NSE Nifty surged 104 points to 25,427.55. From the Sensex firms, Axis Bank climbed 3 per cent, a day after announcing its September quarter earnings. Adani Ports, Titan, Eternal, Kotak Mahindra Bank, Tata Motors and Bharat Electronics were also among the gainers. However, Infosys,

Gold futures surge Rs 1,185 to record Rs 1.28 lakh/10g, breaches USD 4,250 an ounce in global markets

New Delhi, Oct 16 (PTI) Gold prices on Thursday surged by Rs 1,185 to scale an all-time high of Rs 1,28,395 per 10 grams in the domestic futures trade, while the yellow metal crossed the USD 4,250 per ounce globally, driven by expectations of interest rate cuts by the US Federal Reserve, and persistent geopolitical tensions. On the Multi Commodity Exchange (MCX), gold futures for December delivery climbed by Rs 1,185, or 0.93 per cent, to reach a new peak of Rs 1,28,395 per 10 grams. Extending the gains for the fifth consecutive session, the February 2026 contract for the

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