Aussie was one of the key FX movers this morning, after it started the day at $0.9445. It marked early gains as the market reacted to a strong reading of China’s CFLP services PMI released at the weekend. It rode on the support seen at $0.9390 but initially failed to clear $0.9485. The release of another mixed bag of Australian data earlier gave the aussie an added boost, as the market focused on a better-than-expected +0.8% m/m reading of September retail sales, and bought aussie up through the US high, hitting some stops above $0.9490. It peaked at $0.9496 but couldn’t muster enough force for a move through rumored $0.9500/10 sell orders. Late morning comments from DallasFederal Reserve Bank President Richard Fisher gave the US currency a nudge higher, and aussie-dollar peeled off from its earlier peaks. Aussie-dollar was last at $0.9481. Immediate focus remains on a test of the $0.9334-89 support region and then the $0.9223-80 region below.
