AUSTRALIA'S HIRING CRACKS BENEATH THE SURFACE

Australia's labor market lost ground in September: full-time employment rose by 34,400, but part-time roles collapsed by 73,700, according to the Australian Bureau of Statistics. The net effect pushed the unemployment rate up to 4.7%. The Australian dollar, tracked by $FXA, weakened on the report as traders raised bets on a Reserve Bank of Australia rate cut, wagering the labor market is cooling faster than policymakers expected.