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AUD/NZD rebound sharply after Australian jobs report

FXStreet (Córdoba) - The AUD/NZD soared rising in minutes from 1.0555 to 1.0613, reaching a fresh daily high after the release of jobs data from Australia that offset the impact of the RBNZ rate hike. The unemployment rate stood at 6% in February as expected but the employment rose by 47.300 above the 18.000 analysts were expecting.

Australian jobs report vs RBNZ

The report pushed the Aussie to the upside across the board. The AUD/NZD was able to erase previous losses and recovered from 6-week lows. Earlier tumbled following the RBNZ decision to increase the key interest rate to 2.75%, bottoming at 1.0533, the lowest price since January 24.

At the moment of writing the AUD/NZD is trading at 1.0600, up 50 pips since the labor market numbers were released and a the same price level it closed on Tuesday.

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