Aussie was the standout through an otherwise subdued morning in the Asia-Pacific today. Aussie-dollar was whipped about in narrow ranges by another mixed bag of data releases after it started the Asian day at $0.9302. It witnessed a small dip to $0.9293 and then got a lift back to $0.9308 after the release of Wetspac-MI’s Nov consumer sentiment release. The move was reversed as the market latched on to a weak aussie theme, and pushed it down to a $0.9286 low after the release of Q3 wage price index. Aussie-dollar managed to fend off further losses and recovered fairly quickly to its Asian morning high of $0.9310 minutes after that. Since then, aussie-dollar has continued to be buoyed off the high amid a broader US dollar decline, and held to a $0.9300/10through the rest of the morning. Aussie-dollar was last at $0.9304 and faces resistance at last night’s $0.9331 high. A break below $0.9280, a level that helped support aussie-dollar in the last few hours of NY afternoon trading, is likely to set the pair up for another move down to last night’s $0.9268 low (lowest since Sept 30), with the 100-day moving average also coming in at $0.9267, and then the $0.9221 Sept 10 low.
