__________AUSTRALIAN CREDIT/FOREX (0100 GMT) SNAPSHOT__________

FOREIGN EXCHANGE (against previous Sydney close) 0.9209/11 (0.9192) 1.2635/56(1.2632/46) 81.82/87 (81.66) 88.84/87(88.85/88) 0.6164/66 (0.6153) 1.4945/49(1.4936/37)

DEBT FUTURES CASH YIELDS

90-DAY BILL (DEC) 95.92 (-0.01) 3.70(3.71)

3-YR BOND (DEC) 95.14 ( 0.00) 4.77(4.78)

10-YR BOND (DEC) 94.620(-0.005) 5.43(5.43)

3/10 SPREAD +0.530 (+0.515) AUST/US 10-YR SPREAD +208(+207)

S&P/ASX 200 4717.7 (4717.0) US10-YR 3.35(3.36)

----------------------------Nov 24-----------------------------

* Aussie edging down to $0.9200, after running into a wave of

profit-taking short of resistance around $0.9260, with investors

happy to trade tight ranges this close to year-end.

* Aussie had rallied overnight on encouraging U.S. housing

data, firmer equities and a new record high for gold. But the

Nikkei failed to follow and gold ran into selling

at $1,165.00.

* Aussie back at 81.90 yen and stuck well within the recent

80.65 to 84.22 range as the yen finds safe-haven demand.

* Some traders pointed to a report in the Frankfurters

Allgemeine Zeitung that WestLB might need a lot more capital than

first thought, as one reason for the jittery market mood.

* The U.S. dollar had been undermined by repeated comments

from Federal Reserve officials that interest rates will stay low

for a long time

* Yet market still wary of taking on new risk trades this

close to year-end, which may keep the Aussie boxed in for now.

* Equity markets rallied overnight, helped by a record 10.1

percent jump in U.S. existing home sales as first-time buyers

rushed to take advantage of a tax credit.

* EU manufacturing PMI also pleased with a rise to 51.0 while

the services PMI stood at a two-year high of 53.2.

* The S&P 500 was up around 1.3 percent and

European equities rallied broadly.

* Aussie bond futures pared losses as Asian share markets

struggled to match the U.S. gains.

* Australian three-year bond futures recouped their

early losses to be flat at 95.14, while the 10-year contract was

off 0.005 points at 94.620.

(Reporting by Wayne Cole)

(If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) Keywords: MARKETS AUSTRALIA BONDS/FOREX

(wayne.cole@reuters.com ; +61 2 9373 1813; Reuters Messaging: wayne.cole.reuters.com@reuters.net)

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