AUD saw further weakness Monday after trading to support from July2010 on Friday after the stronger than expected US Non-farm Payrolls for November. After opening below that support immediately off the open today, some bids were found ahead of the Chinese trade data. An unexpected mix of solid exports but weak imports saw Aussie back near the session lows, at $0.8294 and despite a small bid back to regain the $0.83 handle, the late afternoon proved that bounces will be sold into with the mood swinging against the currency and with RBA rate cuts on the agenda for many analysts. New lows have been made at $0.8282, on the way to testing the May/June 2010 lows at $0.8070/80. Important data tomorrow in the form of the NAB Business Survey for November, as well as Thursday’s all-important November Employment data up ahead. Tomorrow also sees the ABS’s independent review of the Labour force statistics at 1130 AEDT (0030 GMT). Offers seen at $0.8315/20, then ahead of $0.8350, with bids below thinning out but seen at $0.8260 then $0.8230/$0.8200.
