Although it started the week on a firmer.....>

AUSSIE: Although it started the week on a firmer note, AUD/USD lost ground in

Monday's London hours and finished the day a handful of pips worse off. The

initial uptick was linked to China's pledge to crack down on IP theft, an

apparent attempt to move things forward in trade talks with the U.S. Limited by

Friday's high of $0.6803, the Aussie failed to hold onto its initial gains

albeit a brief penetration of the 61.8% retracement of the Oct bull mkt at

$0.6770 prompted a slight rebound into the close.

- With AUD/USD trading flat at $0.6776, bears look for a clean break under the

aforementioned $0.6770 level/Monday's low of $0.6768. This would shift focus to

the 76.4% retracement of the Oct rally at $0.6732. Meanwhile, bulls target the

mid-point of that rally/50-DMA at $0.6801/07, followed by the $0.6829 100-DMA.

- ANZ Roy Morgan weekly cons. conf. index printed at a four-year low today.

- RBA rhetoric headlines the local docket today, with RBA Dep Gov Debelle set to

speak in Canberra before the Bank's chief Lowe appears in Sydney. On the data

front, the focus falls on construction work done, capex and private sector

credit data, due on Wednesday, Thursday and Friday respectively.