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A tiny 8 pip range for AUD/USD thus far,.....>

AUSSIE: A tiny 8 pip range for AUD/USD thus far, last little changed at $0.6861,
with the latest NAB Business Survey headlining the local docket today. Focus is
set to fall on the labour market sub-indices of the survey. Elsewhere,
participants will eye the broader risk backdrop, as well as Chinese inflation
- Market has looked through the latest comments from Trump re: China.
- Cross topped out at $0.6876 on Monday, just ahead of the 50% retracement of
the Jul 19 - Aug 7 sell-off at $0.6880, which provides the first hurdle for
bulls. A move above here would open the July 7 low at $0.6911. Bears need to
take out the Sep 5 low at $0.6794 to regain some poise.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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