A$ Lower In Risk Pull Back, Job Data Coming Up

AUDUSD headed towards 64c in early European trade but then trended lower over the rest of the session and NY trading. It is now down 0.5% to 0.6335. There was a general pullback in risk given the escalation in tensions in the Middle East which drove the USD index 0.4% higher. But Aussie was still a mid-range performer amongst the G10.

• Short-term gains in AUDUSD are seen as corrective and trend conditions remain bearish. The bear trigger is at 0.6286. Initial resistance is at 0.6445.
• AUDJPY is down 0.4% to 94.95 as the yen was one of the better performers. AUDNZD broke above 1.08 again rising 0.3% to 1.0822. Aussie was 0.1% lower versus the euro and pound at 0.6014 and 0.5217 respectively.
• Equity markets fell with the S&P down 1.3% and the Euro stoxx -1.1%. VIX rose to 19.2%. Oil prices were higher with Brent up 1.6% to $91.34/bbl. Copper is up 0.1% and iron ore is down to $115-116/t.
• Today September employment data are released and a 20k rise is expected with the unemployment rate steady at 3.7% (see MNI Economists Expect Data To Show Stable Labour Market).The Q3 NAB business survey also prints.