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Aussie surged overnight on a much better than expected jobs report:
Employment Change: 37.7K vs. 14.9K expected vs. 42.0K previously (revised up from 15.6K)
Unemployment Rate: 6.1% vs. 6.3% expected vs. 6.2% previously (revised down from 6.3%)
Participation Rate: 64.8% vs. 64.6% expected vs. 64.7% previously (revised up from 64.6%)
In addition, most jobs added were full time jobs.
Market is beginning to question widely expected RBA rate cut in May, but appears to be cautious as the follow through in Europe was not convincing as the pair stalled ahead of 0.78 level.
Employment Change: 37.7K vs. 14.9K expected vs. 42.0K previously (revised up from 15.6K)
Unemployment Rate: 6.1% vs. 6.3% expected vs. 6.2% previously (revised down from 6.3%)
Participation Rate: 64.8% vs. 64.6% expected vs. 64.7% previously (revised up from 64.6%)
In addition, most jobs added were full time jobs.
Market is beginning to question widely expected RBA rate cut in May, but appears to be cautious as the follow through in Europe was not convincing as the pair stalled ahead of 0.78 level.
