AUD/USD back to neutral levels around........>

AUSSIE: AUD/USD back to neutral levels around $0.6495, largely tracking what we

have seen in e-minis thus far, with bulls failing to force their way through

$0.6512, the high from May 1.

- Over the last 24 hours or so bulls have likely been buoyed by the uptick in

U.S. equity markets (Fed -ve rate talk impulses) and BBG pointing to a phone

call between the U.S. and Chinese trade chiefs, which could come as soon as next

week (although these should always be treated with scepticism, given precedent).

Talk of another targeted RRR rate cut/money market rate cuts from the PBoC also

provided a helping hand in early Asia trade.

- RBA SoMP headlines the local docket today.