Aussie started this morning at $0.9305, and early attention was on the New Zealand jobs data. Initial reaction was muted with aussie-kiwi holding near the NZ$1.1037 morning high. But the cross retreated soon after falling to a low of NZ$1.0983 and dragged aussie-dollar down with. Aussie-dollar slipped to $0.9299 but recovered in tandem with the cross, which subsequently rebounded back to the NZ$1.1030 region. Aussie-dollar’s losses resumed after Asian stock markets opened lower, and it then fell to a $0.9292 low. The pair then ran into rumored demand from $0.9290 and was carried back up to $0.9301 initially, and then to $0.9303 in the early afternoon. Aussie-dollar was last at $0.9302 with a move toward last week’s $0.9279/76 lows seen if $0.9290 fails to support further. There’s also been some worries about reports of a possible strike by port workers due this weekend, which would weigh on the aussie further. Stopsare noted above $0.9350 and $0.9425 today and on the downside below $0.9270.
