Session Recap: AUD & NZD bounce as jobs beat estimates down under; China CPI in line

FXstreet.com (Barcelona) - Better than expected employment figures came out today in New Zealand and Australia, making AUD and NZD both bounce strongly from previous support areas, up to 1.0260 for AUD/USD and 0.8484 for NZD/USD. The USD overall eased slightly even against Yen, with USD/JPY down to session lows at 98.73.

China CPI showed a +2.4% increase for the month of April year on year, slightly above consensus and previous at +2.1%, making Shanghai index trade a -0.65% for the day as PBoC easing policies may take now longer than anticipated. Korean Kospi instead rallied more than +1% on the back of the Bank of Korea lowering rates to 2.5% from 2.75%.

Nikkei index found resistance at yesterday's fresh almost 5-year highs shy of the 13400 points ask line, still adding +0.24% profits for the day so far, while Gold has had a similar session than yesterday, first moving lower for then jumping to fresh session highs at $1478 in the spot market, to end just as it started at last $1474. Oil remained steady around the $96 mark.

Main headlines for the Asian Session:

Forex: EUR/USD, nowhere to go

Forex: Soros' AUD short idea attracts supporters, Druckenmiller joins bear call

Australian PM Gillard says the resources sector is growing strongly

New Zealand labour market much stronger than forecast

Forex: Kiwi claws back losses after NZD jobs data beats estimates

Forex Flash: RBNZ currency intervention not always a success - Nomura

Bank of Korea cuts key interest rate to 2.5% from 2.75%

Forex: EUR/JPY ready for the next leg up?

Australian jobs comes at a 'mind-blowing' 5 times above expectations

Forex: Aussie rockets higher after AUD jobs data crushes estimatesCommodities Brief: Oil adds to gains, notches highest daily close since late March

Forex: GBP/USD continues to consolidate ahead BOE Rate Decision