AUD/USD jumps to near 0.6580 on strong Aussie labor market data

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The AUD/USD pair climbs to near 0.6580 during the European trading session on Thursday, the highest level seen in almost two weeks. The Aussie pair strengthens as the Australian Dollar (AUD) outperforms its peers, following the release of the strong Australian employment numbers for October. Australian Dollar Price Today The table below shows the percentage change of Australian Dollar (AUD) against listed major currencies today. Australian Dollar was the strongest against the US Dollar. USD EUR GBP JPY CAD AUD NZD CHF USD -0.21% -0.19% -0.02% -0.05% -0.38% -0.08% -0.27% EUR 0.21% 0.02% 0.18% 0.15% -0.17% 0.12% -0.06% GBP 0.19% -0.02% 0.18% 0.13% -0.17% 0.11% -0.08% JPY 0.02% -0.18% -0.18% -0.07% -0.38% -0.11% -0.27% CAD 0.05% -0.15% -0.13% 0.07% -0.32% -0.02% -0.21% AUD 0.38% 0.17% 0.17% 0.38% 0.32% 0.29% 0.13% NZD 0.08% -0.12% -0.11% 0.11% 0.02% -0.29% -0.19% CHF 0.27% 0.06% 0.08% 0.27% 0.21% -0.13% 0.19% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Australian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent AUD (base)/USD (quote). Earlier in the day, the Australian Bureau of Statistics reported that employers hired a fresh 42.2K jobs, beating estimates of 20K and the prior reading of 12.8K. The Unemployment Rate decelerated to 4.3%, larger than expectations of 4.4% and the previous release of 4.5%. Strengthening Australian labour market conditions are expected to be a drag on market expectations for more interest rate cuts by the Reserve Bank of Australia (RBA). So far this year, the RBA has reduced its Official Cash Rate (OCR) by 75 basis points (bps) to…