The AUD/USD was a key mover this morning after it opened at $0.8150. It saw a minor dip to $0.8135 before the release of the December labour force survey. That was also believed to be in reaction to ANZ calling for rate cuts, which means that of the big 4 Australian banks, only CBA is expecting the RBA to remain on hold for 2015. But traders also note dthe presence of demand from onshore corporate accounts buying into the aussie dip. The aussie reacted to the jobs data with a sharp bounce up toward $0.8200. Sellers at $0.8200 initially constrained the move with aussie-dollar barely scraping out a $0.8205 high before it pulled back to $0.8183. A fresh round of buying appeared again this time taking out those rumored sellers above $0.8200. The rate got up to $0.8221 before it was then capped after the release of unexpectedly soft data out of China. Aussie-dollar was also believed to have run into strong sell orders from above $0.8230, which then prompted a reversal back toward $0.8200. In the afternoon here, aussie-dollar continued to hold on either side of $0.8200, and last traded at $0.8208.
