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SYDNEY, Oct 13 (IFR) - Market Briefs * Fed policymakers closer to rate hike, but inflation doubts remain-minutes * Voting Fed policymakers generally agreed case for hikes had strengthened * Some voters said cautious approach to hikes could help labor market heal more * Fed can be 'gentle' in hiking rates, Dudley says * Dudley: don't want to push employment too high for fear of overshooting * Dudley: not sure US at full employment given discouraged workers are returning * U.S. JOLTS job openings fall to eight-month low in August * JOLTS job openings 5.443 mln below fcast 5.724 mln, prev 5.831 mln * UK PM May says wants maximum possible access to EU market post-Brexit * Foreigners cut down on EM Asia bonds on belief US rate hike coming-Rtrs * Norway's central bank governor says currency rally quicker than expected Macro Themes in Play * Markets steady/lower as stronger rates and USD weigh; S&P holds uptrend support for second day; credit/EM quiet despite continued meltdown in Alcoa (had triggered broad selloff yesterday) * Fed minutes show board paralyzed by overthinking, some worried over message if policy goals achieved but no rate hike, credibility referenced four times, market sees as x-factor in aggressive pricing Dec meeting, trades 7-in-10 * EUR down as ECB floats yield curve steepening Plan B, tapering long end not well received, now talk of allowing bond purchases through depo rate, buy front end bonds, US-EUR rate diff falls to new low * Cable bounces small, still doesn't trade short; USDJPY up on US rate trade, weak but JP bank and real estate sectors could be problem for bulls * AUD, CAD small retrace of prior day, nothing; Gold hangs lifeless below 200 dma, feels like next move lower Looking Ahead - Economic Data (GMT) * 21:45 NZ Food Price Index Sep 1.30% -prev * N/A CN Exports YY Sep -3.00% f/c, -2.80% -prev * N/A CN Imports YY Sep 1.00% f/c, 1.50% -prev * N/A CN Trade Balance USD Sep 53.00b f/c, 52.05b -prev Looking Ahead - Events, Other Releases (GMT) * 1000 -- New Zealand Treasury publishes government's financial statement for the 2015-16 year. Finance Minister Bill English will give a presentation Currency Summaries EUR/USD * Limited action in NY after bear pressure applied in Europe's morning * NY opens near 1.1020, dips below 1.1010 early, dip bought as USD bid stalls * Lifts to 1.1045, gains erode quickly as USD resumes & intensifies * Sharp drop to 1.1004 ensues, USD bid stalls, bounces near 1.1020 into minutes * Fed minutes initially sink USD, bid emerges though and EUR/USD sinks * Back near the day's low late in the day USD/JPY * JPY sold far and wide, even against the EUR/JPY after Tues's tumble there * USD/JPY ran buy stops into Ldn close above 104.17/32 - Oct/Sep highs * Rise finally ran into exporter & spec offers by 104.50 * Dip back into Cloud was ltd. 61.8% of Jul-Aug drop @104.46 key on close * FOMC Minutes triggered a quick dip toward Tues's 104.07 high * Few vanilla expiries above 105 the next few wks; July's 107.49 hi is huge * EUR/JPY scampers back above thin Cloud it crashed below Tues * Sep's 116.37 high the mark to beat for bulls * GBP/JPY goosed higher by GBP softer-Brexit hopes & O/S rebound * AUD/JPY still struggling above 79 * Eye on JP banks after Harada said 10-yr 0 target's more cap than floor USD/CHF * USD/CHF quickly closing the gap on July & May highs at 0.9952/56 * Today's 0.9910 high & range largely above the upper Bolli a little frothy * USD broadly higher on rising rates, but dipped after FOMC Minutes * 61.8% of this yr' range at 0.99946 remains a M-T closing pivot pt * EUR/CHF got sucked into its 1.0895/929 daily Close (Thur levels) * 1.0893 low got only a tic below the Tenkan & 50% of the Sep-Oct rise * Reuters story on ECB QE options is food for thought GBP/USD * Pair slides in Europe's morning after rally near Asia high stalls,NY opens near 1.2260 * Bear pressure resumes due to comments from Brexit Minister Davis * Davis says is govt's right to trigger A50, sharp drop to 1.2167, EUR/GBP up to 0.9052 * Slide stalls and USD bid abates a bit steady lift ensues, 1.2260 hit after Fed minutes * Dovish bent to minutes fades & USD bid resumes, GBP/USD hits 1.2190 * Bounces toward 1.2215 late in the day, Sep RICS housing data a risk in Asia * USD/CAD * USD/CAD 1.3209/63 O/N, Noram 1.3219/87, close 1.3238 (NY unch to the pip) * A surging CAD/JPY undid an oil-related USD/CAD rally, -1.0/-1.1% (Brent/WTI) * Technical CAD/JPY stops the trigger DXY +0.21%; S&P +0.25% * Oil weak on Sep production, cap viability doubts, physical hedgers * UST/CA 2Y spread unch, 26.2. CAD/JPY +0.85%, 78.68, AUD/CAD +0.24%, 1.0015 * EUR/CAD 1.4590 -0.43% gold +0.1%, Al +0.1%, Cu -0.35% Thur- Light data [page:2417] AUD/USD * A bit heavy in Europe's morning, slides sees NY open near 0.7575 * Slide intensifies as USD broadly bid & equities are soft, nears 0.7555 * Slight bounce near 0.7580 ensues but it's short lived as USD bid extends * 0.7550 neared, USD bid abates, some profit taking hits, AUD/USD nears 0.7575 * Fed minutes initially sees USD fall, 0.7590 neared but gains erode quickly * USD bounces, AUD/USD back below 0.7570 late in the day * No major data to drive pair until US sales data on Friday NZD/USD * Limited action in NY, opens near 0.7065, bear pressure early on * Broad based USD bid sees early dip below 0.7050 * Lifts near 0.7070 as AUD/NZD slips from 1.0735 high & equities rally * USD bid intensifies as USD/JPY nears 104.50, NZD/USD hits new trend low * 0.7045 hit, stops below untouched, USD bid fades & Fed minutes sink USD * NZD/USD lifts above 0.7090 late, little pullback seen, near highs late * Daily techs now warn shorts,after new low set pair up on day & RSI diverges LATAM * USD/MXN little changed on the session, ends NY 18.92, MXN -0.1% vs last night * MXN IP disappointed on the monthly print but somehow held Y/Y f/c * Risk attitudes turned positive in NY, SP futures opened -0.05%, closed +0.2% * Oil prices clawed back some of their earlier losses, still soft, -1.0/1.1% * Brazil was closed for feast of Our Lady of Aparecida USD/BRL ends NY +0.25% 3.2225 * USD/CLP -0.16% to 665.70, copper- 0.37%front contract; Bolsa (IPSA) +0.21% Wary Fed awaits December for hike It might not be what the Fed hoped for when it started this so-called normalization cycle at the end of last year, but 2016 will be another one-hike year, if that. Today's minutes (Full Story) from policymakers' "close call" meeting in September reflected that. After the early-year markets turmoil subsided, the calendar tightened, with a surprisingly poor jobs report for May and the UK's June Brexit vote cluttering the schedule until well into the U.S. political campaign. Hardly the environment for the Fed's notoriously cautious leadership to hike, especially with lingering doubts expressed in the minutes about the strength of inflation. They're unlikely to want to hike at their next meeting because it's the week before the election. The question, then, is whether anything might occur in the weeks leading up to the Dec 13-14 gathering that could blow them off course again. Stranger things have happened.