The pair had a relatively quiet day Monday despite some big moves in peripheral markets. The currency sits 7bps up at $0.8931, despite another poor day on Iron Ore futures in China and other commodity markets world-wide. The pair tested the Friday low and touched down at $0.8922 early before a general sell-off in the USD brought the AUD back to black figures. Sellers had been noted above at $0.8950/60 which held the pair with little else to drive markets, with the short term focus on China’s flash HSBC Manufacturing PMI for September tomorrow (1145 AEST, 0145 GMT). Bids below at $0.8920 to $0.8900 but heavy stops below that; sellers above at $0.8950/60, then $0.8985 to $0.9005 and fast money stops expected above $0.9010.
