AUD/USD has edged higher & last sits at......>

AUSSIE: AUD/USD has edged higher & last sits at $0.6683 as we are nearing the

release of Australia's closely watched labour market survey. Speaking in

parliament two weeks ago, RBA Gov Lowe reiterated that unemployment remains one

of the key factors in making rate decisions and disappointing signals on that

front could potentially warrant adding monetary stimulus.

- When this is being written, markets price a ~6% chance of a reduction to the

cash rate at the next RBA meeting, slated for March 3.

- Despite creeping higher, AUD/USD continues to hover just above its 11-year

lows. A slight recovery in risk appetite lifted the pair in Wednesday's Asia-Pac

hours, but it surrendered all gains and slipped into negative territory. Better

than expected housing mkt & PPI data out of the U.S. helped the sell-off.

- Bears keep an eye on the key support from the multi-year low of Feb 10 at

$0.6660. A break here would open up the lower 2.0% Bollinger band at $0.6647. On

the flip side, a rebound above the trendline resistance at $0.6719 would revive

bullish hopes, drawing attention to the Feb 12 high of $0.6750.

- In local data, flash CBA PMIs will conclude this week's releases on Friday.