ASX climbs despite shock job losses as markets chase offshore momentum

The ASX pushed higher even after Australia shed more than 21,000 jobs in November, with investors instead fixated on the US Federal Reserve’s latest rate cut.

Miners led the charge as commodity prices jumped, helping lift the index nearly 1% while Myer and Flight Centre surged.

But with the RBA warning policy now hinges on incoming data, the calm on markets may not last.