Strong March job numbers out of Australia


The aussie (FXA) continues a nice run higher after Australia adds 18.1K jobs in March, far better than the 5K increase expected, and following the 48K gain in February. The unemployment rate fell to 5.8% vs. forecasts for 6%.

Calling the details of the report "messy," economist Shane Oliver says the picture is still broadly positive. "It's probably best to focus on the trend and it is showing monthly jobs growth of around 14,000 and unemployment rising only very slowly."

Goldman's a bit more cautious, characterizing the better numbers only as "stabilization."

The aussie is ahead 0.5% and buying $0.9434. Sydney gained 0.3% overnight.

ETFs: FXA, EWA, AUSE, CROC, KROO, EWAS, GDAY, FAUS

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