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AUD/USD extending the recovery from fresh....>

AUSSIE: AUD/USD extending the recovery from fresh cycle lows of $0.7041 to top
out so far today at $0.7078, rallying just shy of touted resistance at the Oct5
high at $0.7087 and the Base 1.0% 10-dma envelope at $0.7093. AUD is second to
just the JPY so far today, recovering after the sharp sell-off last week and
buoyed by China's PBoC cutting the RRR by 100bps over the weekend. Relatively
few risk events on the calendar this week, although the RBA's Ellis speaks in
Melbourne Wednesday and the RBA release their Financial Stability Review on
MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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