ASX slips further into the red – Australia’s unemployment rate slides

December 16, 2021 - 5 months ago
Share on twitter
Share on facebook
Share on linkedin
Share on email

The Australian share market fell for the third consecutive session after a strong Australian November jobs report along with the hawkish signals given from the U.S. Federal Reserve.

At the closing bell, the benchmark S&P/ASX 200 index ended lower, losing -31.4 points, or -0.43% to 7,295.7, while the All Ordinaries fell -17.7 points, or -0.23%, to 7,618.5, while our local currency, the Australian dollar, is currently buying US$0.7214.

The Australian Unemployment Rate dropped to 4.6%, below 5.0% forecast and 5.2% prior, whereas the Employment Change rose to 366.1K from +200K expected and -46.3K previous readouts.

Further, the Participation Rate also crossed 65.5% market consensus and 64.7% prior with 66.1% figures.

Meanwhile, the U.S. Federal Reserve outlined a more aggressive plan to address inflation, unveiling steps to tighten monetary policy that largely met market expectations.

In the announcement, the U.S. Federal Reserve said it would likely raise interest rates three times next year to tackle rising inflation. In other markets, the dollar index was tumbled -0.24% to 96.26.

Share on twitter
Share on facebook
Share on linkedin
Share on email