• NZD/USD catches aggressive bids in reaction to the upbeat employment details.
• The momentum gets an additional boost after the release of Chinese trade data.
• A positive risk tone also benefits the Kiwi, though a stronger USD might cap gains.

The NZD/USD pair builds on its strong intraday gains and climbs to over a two-week high heading into the European session on Wednesday, with bulls now building on the momentum beyond the 0.6000 psychological mark. 

The New Zealand Dollar (NZD) rallied hard following the release of better-than-expected employment details, showing that the number of employed people increased by 0.4% in the second quarter. The reading was better than the 0.2% decline registered in the previous quarter and market expectations. Adding to this, the unemployment rate rose less than consensus estimates, to 4.6% from 4.4% during the January-March quarter. The upbeat data lowered the likelihood of a rate cut by the Reserve Bank of New Zealand (RBNZ) and prompted aggressive short-covering around the NZD/USD pair.