The Australian dollar was under pressure for long days and eventually slipped under the 0.75 level. But now, it certainly has reasons to rise.

Australia reported a gain of no less than 60.9K jobs in the month of March. The outcome handily beats 20K that was expected. 74.5K full-time jobs were gained while 13.5K were lost. So, also the details are favorable.

Australia’s unemployment rate remains at 5.9%, but the participation rate is up from 64.6% to 64.8%, so it’s good news all in all. Hours worked increased by 3.2 million.

The employment report is undoubtedly positive and the only caveat is that this print could be a one-off. Labor reports can be volatile and undergo revisions, even if the recent ones showed a changed in the single thousands or in the teens. And, the numbers are seasonally adjusted.

In addition to the good news from Australia, the nation’s biggest trading partner, China, reported its trade numbers. Imports, many of them from Australia, are up 26.3% year over year, surpassing expectations for +15%. In addition, exports beat projections of 8% and are up 22.3%.

The third factor is related to the US dollar. President Donald Trump said that the greenback is too strong, while he refrained from labeling China as a currency manipulator. The President also said he favors low-interest rates. The US dollar suffered a Trump Tumble.