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AUD outperforms its G10 peers at the.........>

AUSSIE
AUSSIE: AUD outperforms its G10 peers at the margin, with AUD/USD last trading
at $0.7121, 9 pips better off, as broader risk-on flows lent a degree of support
to the Aussie through the Asia-Pacific session.
- RBA's Ellis offered little fresh in her latest address. She pointed to labour
market strength, and limited wage growth, while alluding to the wealth effect of
lower house prices on household consumption.
- Consolidation above $0.7117, where the rate peaked yesterday, would allow
bulls to set their sights on the 50-DMA at $0.7126, briefly breached overnight.
Above here opens the 55-DMA at $0.7132. On the downside, bears look for a
retreat through the 200-HMA/21-DMA at $0.7096/90 towards $0.7066, where the rate
bottomed yesterday.
- Australian focus turns to comments from RBA's Kent, due Wednesday, while
private sector credit data hits on Friday. Elsewhere, any fallout from the
Sino-U.S. trade talks will also provide interest.

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