AUD review

The Aussie dollar got hoisted higher after a surprise jobs explosion spoke better about the economy's underlying health and fanned skepticism over the need for further interest rate cuts. March saw a robust gain of 37,700 jobs which unexpectedly pulled the jobless rate down to 6.1 percent from 6.3 percent where it was forecast to stick. 

But as good as the jobs report was it only complicates the outlook for local interest rates. Given the RBA's desire for a weaker currency to help its export-driven economy, the stronger the Aussie behaves perhaps the greater the likelihood of an area interest rate cut in the months ahead. 

The RBA meets the first Tuesday of most months with its next gathering set for May 5. A still elevated chance of a rate cut as early as May risks undercutting today's bounce for the Aussie.