The Labour Day holiday in some states in Australia as well as holidays in many parts of the Asia-Pacific, including China, kept AUD/USD trades relatively light this morning, although Australian data releases went ahead as scheduled. First upwas the TD-MI inflation gauge, which didn’t invoke much of a market response, with aussie-dollar holding near $0.8660. The aussie had slipped to a $0.8653 low soon after it opened at $0.8671, dragged mainly by a weaker New Zealand dollar. The aussie rebound off the low then continued after the release of ANZ job ads data, and as aussie-kiwi benefited from the NZ dollar’s weakness. Aussie-kiwi bounced off a NZ$1.1160 low and traded through NZ$1.1200 for an eventual high of NZ$1.1219, helping aussie-dollar back up to$0.8691. US dollar sales also helped aussie-dollar along and the pair then traded up to a $0.8700 high. It was last at $0.8691. The market now awaits tomorrow’s RBA rate decision and Thursday’s jobs data.
