The AUD/NZD moved higher and returned to trade again within a tight range, as AUD and NZD are trading in consolidation area against the greenback. The pair’s movements tend to the upside, depending on the strong outlook for the Australian economy compared to New Zealand.
Australian economy is gathering momentum after a government’s cheerful report, where Australian exports accelerated 9.00% in March, led by a gain in iron ore shipments.
The New Zealand currency fell against the majors as the New Zealand’s budget deficit was wider than forecasts in the nine months through March after the strongest earthquake in 80 years prevented some New Zealand companies from paying taxes.
The Australian economy will release critical jobs figures, where the nation is to release its unemployment rates for April at 01:30 GMT, where unemployment is expected to remain steady at 4.9 percent. The employment change is expected to ease to 17,000 following March’s rise of 37,800.
Originally posted here
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