Aussie was a big mover this morning in the Asia-Pacific session, giving back practically all the gains made in the last 2 sessions, after this morning’s October labor force data. Aussie-dollar started the day’s trade supported in a $0.9517 to $0.9530 range although players were already wary of potentially choppy moves likely to be triggered by the jobs numbers. Aussie-dollar was holding at $0.9523 as the ABS data were released, and promptly fell through $0.9500 after the data showed a 1,100 rise in the number ofemployed persons in October, below the median MNI forecast of 7,500. The aussie’s decline briefly paused around $0.9480 before it then extended the lows to $0.9466, with little recovery seen since. Aussie-dollar was last at $0.9476 with the Nov 5 low just below at $0.9464. A break there and below large $0.9450 bids is likely to see the pair head for a re-test of the Oct 4 low of $0.9390, with the 55-day moving average then coming in further down at $0.9369.
