AUD/USD trades at $0.6789, 38 pips lower.....>

AUSSIE: AUD/USD trades at $0.6789, 38 pips lower on the day.

- The rate had already slid in the run-up to the release of Aussie jobs data.

- Aforementioned labour market report provided the main shock as headline

unemployment ticked higher (amid a bump in participation), a larger than

expected surge in employment was underpinned by part-time jobs addition alone,

revisions were weak and underemployment increased a tad.

- Investors boosted bets for a cash rate reduction at the next RBA meeting. The

odds of such a scenario coming into fruition, as implied by the OIS, jumped by

some 15pp to ~71%.

- Meanwhile, Chinese yuan lost altitude, dragging Antipodean FX along.

- Whereas the 50% retracement of this month's rally at $0.6791 provided support

during the post-labour mkt report reaction slump, the level gave way eventually.

Bearish focus turns to the 61.8% retracement of the same range, located at

$0.6767. A return above $0.6791 would play into the hands of bulls, returning

focus to the $0.6844 50-DMA.

- The Australian economic docket is empty tomorrow