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A CNBC report, citing unnamed sources,.......>

AUSSIE
AUSSIE: A CNBC report, citing unnamed sources, suggested that the U.S. and China
may announce a bilateral trade deal by next Friday, providing a degree of
support to AUD overnight. AUD/USD last trades 6 pips higher at $0.7021, off of
session highs.
- BBG trader sources said that the rate might have moved higher, "were it not
for the risks surrounding the RBA's May 7 meeting." As a reminder, the meeting
will take place in the run-up to the May 18 federal elections.
- The Apr 2/3 low of $0.7053/55 continue to provide the initial bullish target.
Above here opens $0.7061, which capped gains on Apr 26, Apr 29 & May 1.
Conversely, bears look for a decline through $0.7007, where the rate printed
lows on Apr 26 & May 1, followed by the lower 1.0% 10-DMA envelope, situated at
$0.6990.
- Australian building approvals and services PMI data take focus tomorrow.

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