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AUD/USD has added a handful of pips and......>

AUSSIE: AUD/USD has added a handful of pips and last deals at $0.6994.
- Despite posting a knee-jerk to a session low of $0.6999 in Wednesday's
Asia-Pac hours, after the RBNZ MonPol decision, AUD/USD finished the session
just shy of its intraday peak of $0.7027. However, the pair eased off through
the day, as USD regained poise, buoyed by a recovery in U.S. 10-year yields.
- Uncertainty re: the direction of Sino-U.S. trade talks also weighed on AUD
yesterday. In the London morning, RTRS reported that "China backtracked on
almost all aspects of U.S. trade deal," while Chinese MOFCOM threatened with
retaliation to planned U.S. tariffs. In the U.S., however, White House
Spokeswoman Sanders said that "China wants to come to a trade deal."
- A dip through the May 6 4-month low of $0.6963 would expose the lower 1.0%
10-DMA envelope at $0.6946. Conversely, a move through $0.7000 would bring the
May 7 weekly high of $0.7048 into play.
- Australian focus during the remainder of this week falls on Chinese inflation
data, due later today, and the RBA's SoMP, due Friday. U.S.-China trade talks
will continue to provide interest.

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