AUD/USD last deals 14 pips lower at..........>

AUSSIE: AUD/USD last deals 14 pips lower at $0.7062, with the early dip stemming

from a statement by NY Fed, which poured some cold water on Thursday's dovish

speech from NY Fed President Williams. According to the statement the speech,

which many read as another signal that a rate cut is nigh, was academic in

nature and did not refer to policy action at the next meeting.

- This allows the rate to pare some of its Thursday's gains registered on the

back of a softening greenback, limited by dovish Fedspeak from Williams, Clarida

and Bullard, as well as a firmer Aussie, aided by domestic labour mkt data.

- Whereas headline unemployment & participation remained unchanged, investors

were reassured by a strong full-time jobs print & a downtick in underemployment.

- Bears look for a slide below the key $0.7048 level, the high of May 7 & Jul 4.

Below would open the 100-DMA, which coincides with the YtD mid-point at $0.7018.

Bulls look to the 38.2% retracement of the YtD range at $0.7083 after the rate

peaked just shy of the level. The next bullish target is at the $0.7091 200-DMA.

- Focus next week turns to CBA PMIs & skilled vacancies due on Wednesday.

Speeches from RBA's Kent & Lowe are exp. next Tuesday and Thursday respectively.