WELLINGTON/SYDNEY, Oct 12 (Reuters) - The Australian and New Zealand dollars shuffled sideways early on Friday, with markets looking past Spain's downgrade while firmer commodities supported risk sentiment.
* Aussie holds around $1.0263 early, from $1.0276 in late local trade on Thursday, having hit a 10-day high of $1.0294 overnight.
* Aussie likely staying in recent range on the lack of fresh leads, with $1.0325 capping the topside and support at $1.0240.
* Likewise, the NZ dollar also range bound, last at $0.8177, from $0.8183. Solid support at $0.8150 holds, while sellers still lined up around $0.8190.
* Against the kiwi, Aussie holds its gains, having been lifted by employment data in the previous day. It last at NZ$1.2547 , from NZ$1.2559 . The cross struck a one year low of NZ$1.2361 last week.
* Iron-ore prices retreat 1.6 pct, having chalked up 11 pct this week or 22 pct over the past month. The sharp rebound in Australia's top export commodity has supported the currency haunted by worries over a slowing Chinese economy.
* Little direction from Wall street, which finishes flat even as U.S. new claims for jobless benefits slid last week to the lowest level in more than four and a half years.
* Euro up on the greenback for the first time in four days, shaking off the impact from Spain's downgrade while the IMF seeks more time for euro zone economies to cut budget deficits.
* Euro steady around A$1.2590 , and at NZ$1.57806 , as the Thomson Reuters-Jefferies CRB index up 0.6 pct, including gold, copper and oil.
* No major data due in Australia, while NZ expects an update on foreign holdings of government debt , which last stood at 58.7 pct in August.
* Elsewhere, markets eye Chinese lending data, euro zone industrial production and U.S. producer prices.
* NZ government bonds flat.
* Australian government bond futures mixed, with three-year contract down 0.010 point at 97.640, and the 10-year contract 0.005 point higher at 97.070.
((Australia/New Zealand bureaux)(+61 2 9373 1800/+64 4 802 7980))
Keywords: MARKETS AUSTRALIA NEWZEALAND/FOREX