The Aussie Dollar rallied in the Asian session after employment data came in a lot stronger than expected. The unemployment rate fell to 5.9 %, while the market was expecting that it will stay unchanged at 6.2 %. The employment change number arrived at +58.6k vs. +15k expected. AUD/USD jumped from 0.7060 to 0.7135 immediately after the release and eventually extended gains towards 0.7155. AUD/NZD rallied from 1.0760 to 1.0870 and eventually 1.0915.
The New Zealand Dollar did not benefit from this, as heavy AUD/NZD buying put pressure on the currency. NZD/USD fell from 0.6575 in the early Sydney session to a low of 0.6540 in Tokyo. The Canadian Dollar also remains relatively weak as oil prices fell to a fresh low in yesterday's NY session. USD/CAD briefly fell to 1.3225, but recovered to 1.3250 in Asia. Price action has been quiet this week, with the pair caught in a 80 pips range so far.
USD/JPY found again support at 122.75 and bounced back to 123.00. The pair remains well bid overall, but much will depend on US econ data today and tomorrow (initial jobless claims, retail sales).
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