AUD heading into Europe on the day’s highs after earlier weakness on the back of poor data out of China, with their November CPI and PPI both lower than expectations. Mixed data domestically with Westpac’s Consumer Confidence for December at it’s lowest since August 2011, but Housing Finance continuing to rise in October, above expectations with another solid jump in investor loans. The session low of $0.8265 was made just after the Chinese data, and short cover ensued for the rest of the session. Currently sitting at $0.8315, up 22bps on the day, with offers expected from here to $0.8325. Sellers also at $0.8330 and $0.8350; bids below at $0.8250, $0.8225/30 then $0.8200.
