AUD on the front foot post-RBA cut. - This...>

AUSSIE: AUD on the front foot post-RBA cut.

- This comes after the Bank fails to commit to further cuts, but such an

indication may be given in RBA Governor Lowe's evening speech in Sydney (as we

highlighted beforehand).

- To Summarise the RBA's concluding paragraph noted that "today's decision to

lower the cash rate will help

make further inroads into the spare capacity in the economy. It will assist with

faster progress in reducing unemployment and achieve more assured progress

towards the inflation target. The Board will continue to monitor developments in

the labour market closely and adjust monetary policy to support sustainable

growth in the economy and the achievement of the inflation target over time."

- AUD crosses remain range bound. AUD/USD last +0.10, back from the reaction

highs. Bulls look to clear the clustered $0.6996-.7008 resistance zone on a

closing basis, before looking higher