Australian wool auction markets this week followed the softer lead of the close of last week sales and continued to drift sideways then lower. Several factors including floods in a Geelong (Victorian) scouring plant and a brokers wool store, access to finance locally and heavier than expected offerings were all cited as market influences. However, the more significant factor in the market was AUD strengthening by over 2pc against all of the major currencies such as the USD, Euro and CNY. The Eastern Market Indicator (EMI) decreased 16ac/clean kg, or 1.23% lower, to close at 1280ac/clean kg. Importantly, the EMI when expressed in USD trended dearer by 7usc/clean kg to 902usc/clean kg.