AUD benefitted from the outperformance of....>

AUSSIE: AUD benefitted from the outperformance of commodity tied FX on Tuesday,

as the risk on mood that came in spite of the formalisation of the latest round

of U.S.-China trade tariffs leant support.

- The lack of overtly dovish rhetoric in the minutes from the RBA's latest

MonPol decision also helped, with the bank holding a relatively upbeat view on

the domestic growth outlook over the forecast horizon, and a slightly more

upbeat assessment of the future path for wages.

- The rate last deals at ~0.7230. While AUD/USD managed to reclaim the $0.7200

handle on Tuesday, there's little technical evidence that a bullish breakout is

forthcoming as the proximity to the YTD low ($0.7085) remains a worry. Below

there, the $0.7000 psychological level is reported to hold option-related

support. However, the close above $0.7200 will encourage bulls, who now look to

the $0.7310/15 area.

- A speech from RBA's Kent provides the major AU risk event today. The speech is

titled "Money - Born of Credit?"