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AUD crosses knee-jerked lower and returned...>

AUSSIE: AUD crosses knee-jerked lower and returned to prior levels, as decent
revisions in the second est. of 2019.20 capex negated softer than exp. Q1 capex
& building approvals prints. This came after the Australian Fair Work Commission
lifting minimum wages by 3.0%, and the PBoC fixing the yuan slightly firmer than
expected provided a degree of support to the Aussie.
- Elsewhere, Fitch said that they exp. Australian GDP growth to slow to 2% this
year, the worst pace since the financial crisis.
- AUD/USD last seen at $0.6925, 8 pips better. Bulls continue to eye $0.6941,
which represents the 21-DMA, while bears target Monday's/yesterday's low of
- AUD/JPY last deals at Y75.82, barely changed on the day. Bulls focus on the
Y76.00 mark, while the initial layer of support comes at the May 17 low of
- AUD/NZD sits at NZ$1.0625, virtually unchanged on the day, with familiar
technical picture still in play.

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