Aussie-dollar: European open.........>

AUSSIE SUMMARY: Aussie-dollar: European open $0.7861, range 0.7825-0.7861, NY

open $0.7839, range $0.7808-0.7842

*Persistent dollar demand triggered light stops through $0.7835, rate touched

pullback lows of $0.7825 before dip buyers cushioned falls.

*The pair continued to grind off the intra-day low into the NY open,

with the rate grinding towards $0.7845

*The release of strong US Retail Sales/Empire mfg data triggered broad based 

dollar demand, with the rate falling to a new intra-day low of $0.7811. Dip

buyers emerged pushing the rate to recovery highs of $0.7827.

*The pair slipped from its recovery highs of $0.7827, following commodities

dropping. The rate printed a new intra-day low of $0.7808.

*A wave of broad based dollar profit taking witnessed the rate bounce off the

intra-day low of $0.7808 to recovery highs of $0.7827.

*The pair slipped back from its recovery highs towards the NY close, with the

rate drifting towards $0.7815.