OctaFX | OctaFX Forex Broker
Open trading account

Session Recap: Aussie skyrockets after 'beyond belief' Aus jobs

The Australian Dollar has been, again, the big star of the Asian session, after massive blow-out jobs figures in Australia for the month of February, with 71.5k jobs added, 17.8k being full-time, 53.7 part-time. The AUD/USD rose to its highest since February 5 after buyers absorbed heavy supply through 1.0360/70.

Another big mover, but on the opposite direction as the Australian Dollar, was the Kiwi, which was trashed across the board following doVish comments from the RBNZ, after leaving rates unchanged at 2.5% but taming expectations of rate hikes this year. The Euro was initially benefited on USD weakness, however, a test of 1.2980 supply saw price turning towards 1.2950.

On the Japanese Yen front, early strength was later challenged by dip buyers in Yen crosses, sending rates back to flat level against the USD, which continues to hold 95.50 demand area. AUD/JPY broke into new trend highs.

In Japan, the lower house endorsed the nomination of the new BoJ leadership. Tomorrow at 1GMT is the turn for the upper house to confirm the three candidates.

Main headlines in Asia

- NZD/USD collapses to 0.8200 after RBNZ decision

- RBNZ leaves interest rate unchanged at 2.5%

- RBNZ’s Wheeler: NZD will come off at some stage, it could come off quite sharply

- RBNZ’s Wheeler sees the NZD as overvalued by 10 to 15%

- Data: Australia March MI inflation expectations 2.3% (vs. +2.2% prior)

- Huge blowout on Australian jobs report

- AUD/USD peaks at 1.0380 post Aus jobs

- Curious facts about the eye-popping Australian jobs data

- AUD/JPY prints double high above 99.50

- EUR/JPY puts pressure on 123.80/124.15 proven demand

- US Federal Reserve changing its schedule for the press conference following policy statements

- WSJ article: CFTC examining the setting of gold prices in London for evidence of manipulation

AUD/NZD jumps to fresh 2-month highs on RBNZ+Aus jobs data

- Japan lower house endorses all 3 BOJ leadership nominees

Japan Jan Industrial Production (YoY) up to -5.8% vs -7.9%

Read more Previous

Forex Flash: Despite Aus jobs data, NAB still expects RBA cuts before year-end

On the back of February 71.5K jobs number, way above expectations, NAB notes that "the chances of a rate cut in April, for domestic reasons, is approaching zero."
Read more Next
Start livechat