Stocks Rally, AUD & NZD Happy

The Australian and New Zealand dollar extended their rally today, rising against the US dollar for the third day, as stocks advanced amid renewed risk appetite of investors.
The Standard & Poor’s 500 Index advanced 1.8 percent yesterday, The MSCI Asia Pacific Index of stocks jumped as much as 2.8 percent. The Thomson Reuters/ Jefferies CRB Index of commodities rose 1.9 percent. Traders remained cautious ahead of the monetary policy meeting of the European Central Bank today, fearing the ECB may cut interest rates. Nevertheless, the encouraging employment report from the US yesterday helped maintain the Forex market in risk-on mode.
AUD/USD advanced from 0.9658 to 0.9735 and NZD/USD rose from 0.7660 to 0.7716 today as of 8:41 GMT.

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