Australian employment rose by more than expected for a second straight month in October, helping keep the jobless rate steady and forcing the market to lengthen the odds of a cut in interest rates before year end. The Australian dollar rose a quarter of a cent after government data showed employment increased 10,700 in October, beating forecasts of a flat outcome.
The jobless rate held at 5.4 percent, when analysts had expected a tick up to 5.5 percent. Full-time jobs also rose a solid 18,700. The better data seemed to diminish the chance of an easing in December after the Reserve Bank of Australia (RBA) surprised some by not cutting the 3.25 percent cash rate at its policy meeting this week.