AUD/USD trades marginally lower, at..........>

AUSSIE: AUD/USD trades marginally lower, at $0.6842, following the release of

the three Australian flash PMI readings from CBA, which slipped deeper into

contraction across the board.

- The main highlight Thursday was a considerably stronger than expected

Australian jobs report, which prompted participants to pare RBA easing bets,

with some analysts revising RBA calls. Resultant rally in AUD/USD was somewhat

trimmed into Europe, as the surge in employment was driven purely by part-time

jobs, while some of the progress may reverse as the data captures the fallout

from recent bushfires. The rate pulled back and almost re-tested earlier highs

before dropping sharply into the WMR fix as coronavirus worry sapped the yuan.

- The trendline support drawn off the Oct 2 low comes under increasing pressure.

It intersects at $0.6833 today, providing the initial bearish target. A break

here would open up the Jan 22 low of $0.6827. Bears eye the 200-DMA at $0.6879,

which capped gains on Thursday.

- On the radar next week are Australian NAB Business Confidence (Tuesday), Q4

CPI (Wednesday), as well as PPI and private sector credit (Friday).