澳元下跌，尽管4月就业强劲。澳大利亚4月份新增就业人数远超预期，但澳大利亚央行降息预期限制了澳元在亚洲时段的涨幅。

AUD Slips Despite Strong April Jobs Beat.Australia added a lot more jobs than expected in April, but RBA rate cut expectations limited the Australian dollar's gains in the Asian session.

澳大利亚4月份就业人数激增8.9万，失业率维持在4.1%不变。4月份，澳大利亚劳动力市场出现了强劲的上行惊喜，就业人数增加了8.9万人，远高于20.9万人的预期。全职工作占收入的59.5万，而兼职工作增加了29.5万。

Australia jobs surge 89k in April, unemployment rate unchanged at 4.1%.Australia's labor market delivered a strong upside surprise in April, with employment rising by 89k, sharply above expectations of 20.9k. Full-time jobs accounted for 59.5k of the gain, while part-time employment rose by 29.5k.

周四，澳大利亚10年期政府债券收益率升至4.59%左右，创下四个月来的最高水平，此前劳动力数据出人意料地强劲。澳大利亚经济在4月份增加了89000个工作岗位，大大超过了预期的20000个和3月份向上修正的36400个。与此同时，失业率稳定在4.1%，与预测相符。周三的数据还显示，工资增长强于预期。这些报告表明，澳大利亚的劳动力市场仍然紧张，为澳大利亚储备银行在未来几个月降低利率提供了较小的动力。最近美中贸易紧张局势的缓和缓解了人们对全球经济衰退的担忧，也降低了国内激进货币宽松的必要性。尽管如此，市场预计央行下周将把4.10%的现金利率下调25个基点。

Australia’s 10-year government bond yield rose to around 4.59% on Thursday, marking its highest level in four months, after a surprisingly strong labor reading. The Australian economy added 89,000 jobs in April, significantly surpassing expectations of 20,000 and March’s upwardly revised gains of 36,400. Meanwhile, the unemployment rate held steady at 4.1%, in line with forecasts. Data on Wednesday also showed a stronger-than-expected wage growth. These reports signaled that Australia’s labor market remained tight, providing the Reserve Bank of Australia with lesser impetus to lower interest rates in the coming months. The recent easing of trade tensions between the US and China, which alleviated concerns about a global recession, also reduced the need for aggressive monetary easing at home. Still, markets expect the central bank will cut its 4.10% cash rate by 25bps next week.

周四，澳元攀升至0.644美元左右，在强于预期的就业数据支撑了更为鹰派的货币政策前景后，弥补了前一交易日的一些损失。官方数据显示，4月份澳大利亚经济新增净就业岗位8.9万个，使总就业人数达到创纪录的1464万人，远高于预测的2万人。失业率稳定在4.1%，符合预期。尽管人们普遍预计澳大利亚储备银行将在下周的会议上将现金利率下调25个基点至3.85%，但交易员们已经降低了对进一步宽松政策的预期。市场目前预计，到年底将降息约76个基点，低于几周前的100个基点。从外部来看，投资者仍然关注不断发展的美中贸易关系，注意力转向了对全球增长和贸易动态的长期影响。

The Australian dollar climbed to around $0.644 on Thursday, rrecouping some losses from the previous session after stronger-than-expected jobs data bolstered a more hawkish outlook for monetary policy. Official figures showed the Australian economy added 89,000 net new jobs in April, lifting total employment to a record high of 14.64 million—well above the forecast of 20,000. The unemployment rate held steady at 4.1%, in line with expectations. While the Reserve Bank of Australia is still widely expected to cut the cash rate by 25 basis points to 3.85% at its meeting next week, traders have scaled back expectations for further easing. Markets are now pricing in around 76 basis points of total rate cuts by year-end, down from 100 basis points just weeks earlier. Externally, investors remained focused on the evolving US-China trade relationship, with attention turning to the longer-term implications for global growth and trade dynamics.