The Aussie dollar initially spiked higher on news that the German high court green-lighted a European bailout fund, but ended the day around where it was trading prior to that news, albeit in positive territory. The AUDUSD over the last week also reaffirmed its status among Western markets where bad economic data is seen as bullish because of the prospects for supportive government action, i.e.: the Keynesian Dividend. The low tick in the AUDUSD at 1.0166 last Wednesday night was posted just moments after Australia reported its job growth dropped to -8,800 for August. Remember the June U.S. non-farm payroll number? It came in nearly 100K less than expected and the Aussie pairs posted the year's low on that same day, while U.S. stocks bottomed the following Monday.

Despite the sizable rally in AUDUSD over the last five sessions, the day to day pattern remains lower, which is to say