AUD/USD posted a leg higher in reaction to...>

AUSSIE: AUD/USD posted a leg higher in reaction to the local labour market

report. Headline unemployment rate fell to 5.2% against expectations staying

unch. at 5.3%. Employment change nearly matched estimates, as a decline in

part-time jobs failed to offset the swelling number of full-time positions.

Participation rate edged lower to 66.1% from 66.2% vs. projections of no change.

It is worth noting that underemployment moderated somewhat.

- Q3 NAB business confidence survey was released at the same time, but jobs data

took the centre stage. Headline biz. conf. index printed at -2 and the prior

reading was revised lower to 5 from 6.

- AUD/USD has added 25 pips and last sits at $0.6784. Consolidation above the

50-DMA at $0.6778 clears the way towards the 61.8% retracement of the Sep 12 -

Oct 2 slide/Oct 11 high at $0.6809/11. Bears would be reassured by a retreat

below the 50-DMA, followed by a breach of the 23.6% retracement of the

aforementioned slide at $0.6724.