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Aussie and Kiwi put on a strong show after positive job data and GDP

The Australian stock market is modestly higher on Thursday after strong employment data. The unemployment rate falls 0.1% to 5.2%, with 39,900 new jobs created during November. In meanwhile, New Zealand’s GDP growth beat expectations in the third quarter. The economy expanded 0.7% quarter-on-quarter, faster than the 0.6% economists had expected. In the currency market,... Aussie and Kiwi put on a strong show after positive job data and GDP
The Australian stock market is modestly higher on Thursday after strong employment data. The unemployment rate falls 0.1% to 5.2%, with 39,900 new jobs created during November. In meanwhile, New Zealand’s GDP growth beat expectations in the third quarter. The economy expanded 0.7% quarter-on-quarter, faster than the 0.6% economists had expected.

In the currency market, the Australian dollar and New Zealand dollar is higher against the U.S. dollar on Thursday. Aussie bounced immediately after the data, rising as much as 0.4% to 0.6880 and Kiwi jumped to a high of 0.6615 after the strong GDP report.

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Weekly review: Gold, USD, EURUSD and Dow Jones

Weekly review: Gold, USD, EURUSD and Dow Jones

Global equity markets and precious metals ended with notable gains last week despite a hawkish speech by Jerome Powell. Looking ahead, the global markets are expected to remain extra volatile the remaining week due to a busy economic calendar and all eyes remain on Friday’s US job report.

Weekly review: Gold, USD, EURUSD and Dow Jones

Weekly review: Gold, USD, EURUSD and Dow Jones

Precious metals started the new of trading on a bullish note while US stock futures opened mixed on Monday following the Thanksgiving break. The volatility is expected to remain high this week, based on a list of important data and events. The ISM manufacturing PMI and the Core Personal Consumption Expenditures (PCE) Price Index may be the most market-moving events on the calendar this week.