On a brief look it would appear that the Australian Wool auction market was a somewhat mundane affair this week as the EMI (Eastern Market Indicator) appreciated by just a single cent to 1285ac/clean kg. In fact it was quite the contrary, as prices moved along two opposing tracks from day one to day two. Extremely positive gains occurred on the opening day of sales in the magnitude of around 20ac/clean kg, only to see most of those gains wiped off on a largely negative final day of selling. These movements largely traced the daily shift in the USD v AUD foreign exchange rates. By the week’s end the EMI when expressed in USD rose 9usc/kg to 919usc/clean kg, rounding off the fifth consecutive week of the US indicator rising, underscoring the solid demand from our end users.