Strong employment data released by both New Zealand and Australia prompted the South Pacific nations' monetary units to gain in value against the majority of their rivals on Thursday, according to Bloomberg.
"We are mindful of the volatility in the headline employment numbers, which has stepped up recently, but the reality is that monthly employment has averaged a solid 26,500 this year," senior currency strategist Sue Trinh with RBC Capital Markets told The Business Spectator on Thursday. "The firmer tone to the labor market appears consistent with what is shaping up to be a healthy first quarter gross domestic product print and reasonable economic growth in early 2013."
Australia strengthened payrolls by 50,100 jobs last month, advancing beyond the median projection of 11,000 in a survey administered by the news source.
Australia is scheduled to release on Friday its quarterly Statement on Monetary Policy, an economic forecast that is likely to impact several monetary units' performances, The Business Spectator reports.
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