AUD/USD Analysis

The pair started this morning and $0.8496 but fell to around $0.8466/69 in very early trading to start the new week. That represented fresh 2014 and 4.5 year lows for the pair and kept the focus firmly on the $0.8316 July 2010 monthly low. Losses continued after that as the tumble in oil and commodity prices hit aussie sentiment, with the pair then deflating through $0.8461 to $0.8449. By the time Asian stocks got underway, aussie-dollar had traded a $0.8427 low but managed a mild recovery to $0.8457. The release of Australia’s Q3 business indicators survey helped aussie-dollar back up while the release of China’s semi-official CFLP PMI about 30 minutes later didn’t result in much in the way of a further boost. The HSBC China final PMI reading then followed and was as-expected, resulting in aussie-dollar slipping to a $0.8417 low before it marked another small recovery. It was last at $0.8455 with dealers noting barrier-related demand interest further down at $0.8400, with stops then expected on a break lower