Still Heavy

AUD/USD edged lower on Thursday, while sticking to a fairly tight range, as participants assessed the latest goings-on from the Omicron front, digested another round of Fed taper talk and scrutinised some fresh headwinds for Chinese firms from U.S. regulators.

• The final reading of Australia's Markit Services PMI for November was revised to 55.7 from 55.0. In the absence of further local data releases today, Chinese Caixin PMIs are set to take focus.
• Looking ahead, Australia's Melbourne Institute Inflation & ANZ job ads are due Monday, while house price index comes out Tuesday. Also on Tuesday, the RBA will deliver their monetary policy decision.
• AUD/USD remains heavy and last sits at $0.7088, a handful of pips lower on the day. A fall through Nov 30 low of $0.7063 would shift focus to Nov 4, 2020 low of $0.7049. On the flip side, a clearance of Nov 26 high of $0.7198 would expose Nov 15 high of $0.7371.