Australian employment data boosts the AUD, pushing the AUD/NZD cross to its highest level in over a week.
The Australian Dollar surged to a one-and-a-half-week high against the New Zealand Dollar, trading near 1.2060-1.2065, following the release of upbeat monthly jobs data. The report attracted fresh buyers to the AUD/NZD cross during the Asian session.
Prior to the release, the pair had traded in a narrower range, with recent economic indicators suggesting mixed labor market conditions. The latest figures exceeded expectations, reinforcing optimism about Australia’s economic resilience.
Markets reacted swiftly, with the AUD gaining ground as traders adjusted positions based on the stronger-than-anticipated employment print.