The pair was mostly sidelined during the US session, marking a $0.9015/36 range, and started the Wednesday session holding just below that at $0.9013. Bids mentioned toward $0.9000 initially proved supportive, but traders were closely eyeing today’s yuan fixing and PBOC open market ops. Aussie-dollar traded down to a $0.9004 low ahead of the yuan fix, matching the low traded in European hours, as bids at $0.9000 contained the rate again. Aussie-dollar however dollar dropped from the $0.9010 to a low $0.8969 low after stops in aussie-kiwi were triggered through $1.0810 then aussie-dollar stops through $0.9000 were also hit. Q4 Construction work data didn’t help the aussie much,coming in at -1.0% vs. economist expectations of a +0.2% rise. The drop was shortlived as aussie-dollar then stabilized at the $0.8980/90 area even after the yuan fix. Fresh offers from around $0.9000/10 weighed the aussie down for a while but signs of stability in the yuan market gave aussie the confidence to attempt a recovery back through $0.9000. The rate was last at $0.9007, with more offers seen atop last night’s high from $0.9045/50. Ahead, Thursday’s Q4 capex data is seen as a key release for the aussie
