澳大利亚10年期政府债券收益率小幅下跌至4.23%，此前一份疲软的就业报告增加了储备银行今年晚些时候再次降息的可能性。8月份就业人数下降了5400人，此前7月份修正后增加了26500人，超出了22000人的预期。失业率保持在4.1%，与预期相符。市场继续预计澳大利亚储备银行将在本月晚些时候的会议上保持现金利率稳定，但现在预计11月降息的可能性约为70%。到目前为止，央行采取了谨慎的宽松政策，今年只进行了三次降息，决策主要受季度通胀数据的指导。本周早些时候，助理行长Sarah Hunter表示，央行已接近实现通胀和就业目标，但指出经济前景两侧仍存在风险。

Australia’s 10-year government bond yield edged lower to 4.23% after a soft jobs report added to the case for another rate cut by the Reserve Bank later this year. Employment fell by 5,400 in August, following a revised 26,500 rise in July and defying forecasts of a 22,000 gain. The jobless rate stayed at 4.1%, matching expectations. Markets continue to expect the RBA to keep the cash rate steady at its meeting later this month but now assign about a 70% probability of a rate cut in November. The central bank has so far taken a measured approach to easing, delivering only three cuts this year, with decisions guided primarily by quarterly inflation readings. Earlier in the week, Assistant Governor Sarah Hunter said the central bank was close to achieving both of its inflation and employment goals, but noted risks remain on both sides of the economic outlook.

周五，澳元跌至0.660美元左右，连续第三次从周中达到的11个月高点回落。澳元也将出现四周来的首次单周下跌，受低于预期的8月就业报告的压力，该报告显示就业人数意外下降，加强了今年晚些时候澳联储降息的押注。市场目前认为，9月份加息的可能性只有20%，11月份的可能性是70%。10月公布的第三季度通胀数据将是关键，央行指出，月度数据不太可靠。投资者还等待下周的PMI数据来衡量该国的经济健康状况。美元因美联储不那么温和的政策立场而获得支撑，这增加了压力。鲍威尔主席将降息25个基点描述为劳动力市场疲软的风险管理步骤，强调没有必要急于放松。随着新申请失业救济人数的下降，美元也得到了支撑，扭转了前一周的飙升趋势。

The Australian dollar slipped to around $0.660 on Friday, its third straight decline to pull back from an eleven-month peak reached mid-week. The Aussie is also set for its first weekly loss in four weeks, pressured by a weaker-than-expected August jobs report that showed a surprise drop in employment, reinforcing bets of an RBA rate cut later this year. Markets currently price only a 20% chance of a September move and a 70% chance in November. The Q3 inflation print due in October will be pivotal, with the central bank noting that monthly figures are less reliable. Investors also await next week’s PMI data to gauge the country’s economic health. Adding pressure, the US dollar gained support from a less dovish policy stance from the Federal Reserve. Chair Powell framed the quarter-point cut as a risk-management step amid a softening labor market, stressing there was no need to rush easing. The greenback also found support as new jobless claims fell, reversing the prior week’s spike.

标准普尔/澳交所200指数周五早盘上涨0.5%，至8785点左右，弥补了前一交易日的一些损失，因为对国内货币政策的鸽派押注支撑了股市。8月就业报告疲软，就业人数意外下降，强化了今年晚些时候澳大利亚央行降息的预期。大多数分析师预计9月不会有变化，11月可能会下调，具体取决于10月公布的第三季度通胀数据。央行已表示将等待季度数据，认为月度数据不太可靠。市场也在等待下周的PMI数据来衡量该国的经济健康状况。与此同时，美联储今年首次降息25个基点，并表示在年底前再降息两次。在悉尼，科技股、能源股和医疗保健股领涨，如Xero（3.5%）、Santos（0.8%）和Telix Pharmaceuticals（8.5%）。本周，澳交所将迎来第三周下跌，部分原因是地缘政治风险和全球贸易紧张局势。

The S&P/ASX 200 rose 0.5% to around 8,785 on Friday morning trade, recouping some losses from the prior session as dovish bets on domestic monetary policy supported equities. A weaker August jobs report, with surprise drop in employment, reinforced expectations of an RBA rate cut later this year. Most analysts expect no change in September, with a possible cut in November depending on the Q3 inflation print due in October. The central bank has signaled it will wait for quarterly data, viewing monthly figures as less reliable. Markets also await next week’s PMI figures to gauge the country’s economic health. Meanwhile, the US Federal Reserve cut rates by 25bps, its first move this year, and indicated two more cuts before year-end. In Sydney, tech stocks, energy, and healthcare led the advance, such as Xero (3.5%), Santos (0.8%), and Telix Pharmaceuticals (8.5%). Over the week, the ASX is on track for its third weekly decline, partly due to geopolitical risks and global trade tensions.

周四，标准普尔/澳交所200指数下跌0.8%，收于两周低点8755点，受桑托斯因ADNOC牵头的财团撤回收购要约而暴跌后能源股拖累。市场还消化了低于预期的就业报告，该报告显示8月份就业人数减少了5400人，与21500人的增长预测相反，全职工作人数减少了40900人。失业率保持在4.2%，而参与率降至66.8%，表明劳动力市场逐渐疲软。尽管如此，市场认为9月份澳大利亚储备银行降息的可能性只有20%，11月份的可能性为70%，因为高于目标的通胀使政策制定者保持谨慎。在企业新闻方面，能源公司下跌5.9%，为五个多月来最疲软的一天，桑托斯暴跌11.9%，此前阿布扎比ADNOC领导的财团在就估值和条款进行了数月的争论后撤回了187亿美元的出价。由于铜价下跌，权重矿商也下跌了0.4%，而对利率敏感的金融股下跌了0.9%，CBA下跌了2.3%，这是连续第四次下跌。

The S&P/ASX 200 finished 0.8% lower at a two-week low of 8,755 on Thursday, dragged by energy stocks after Santos slumped as an ADNOC-led consortium withdrew its takeover bid. Markets also digested a weaker-than-expected jobs report, which showed employment fell by 5,400 in August, defying forecasts for a 21,500 gain, as full-time jobs dropped 40,900. The jobless rate held at 4.2% while participation eased to 66.8%, pointing to a gradually softening labor market. Still, markets see only a 20% chance of an RBA cut in September, with November odds at 70%, as above-target inflation keeps policymakers cautious. In corporate news, energy firms dropped 5.9%, their weakest day in over five months, with Santos plunging 11.9% after Abu Dhabi’s ADNOC-led consortium withdrew its $18.7B bid following months of wrangling over valuation and terms. Heavyweight miners also fell 0.4% on weaker copper prices, while rate-sensitive financials slipped 0.9%, with CBA down 2.3%, its fourth straight decline.